Fortescue Ltd (OTCMKTS:FSUGY) Sees Significant Increase in Short Interest

Fortescue Ltd (OTCMKTS:FSUGY) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 341,400 shares, an increase of 12,544.4% from the March 31st total of 2,700 shares. Based on an average daily trading volume, of 718,200 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.0% of the company’s stock are sold short.

Fortescue Stock Performance

Shares of OTCMKTS FSUGY opened at $20.21 on Monday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.10 and a current ratio of 2.67. Fortescue has a one year low of $16.41 and a one year high of $36.87. The business’s 50-day moving average price is $20.09 and its two-hundred day moving average price is $22.78.

Fortescue Cuts Dividend

The company also recently disclosed a dividend, which was paid on Thursday, April 3rd. Investors of record on Monday, March 3rd were issued a $0.6199 dividend. The ex-dividend date was Monday, March 3rd.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised shares of Fortescue from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 8th.

Fortescue Company Profile

Fortescue Ltd engages in the exploration, development, production, processing, and sale of iron ore in Australia, China, and internationally. It explores for copper, gold, and lithium deposits; and rare earth elements. The company provides port towage services; owns and operates rail and port facilities; and focuses on producing green energy and green hydrogen, including derivatives comprising green ammonia.