Short Interest in Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) Rises By 92.8%

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) was the target of a large growth in short interest in July. As of July 31st, there was short interest totaling 86,791 shares, a growth of 92.8% from the July 15th total of 45,013 shares. Based on an average daily trading volume, of 177,910 shares, the short-interest ratio is presently 0.5 days. Approximately 0.0% of the shares of the stock are sold short.

Fortescue Price Performance

OTCMKTS FSUGY traded down $0.16 during trading hours on Friday, reaching $24.85. The company had a trading volume of 66,544 shares, compared to its average volume of 88,411. The company has a current ratio of 3.03, a quick ratio of 2.28 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average of $26.40 and a 200 day moving average of $28.43. Fortescue has a 1-year low of $24.08 and a 1-year high of $33.44.

Wall Street Analyst Weigh In

Several research firms recently commented on FSUGY. Zacks Research lowered shares of Fortescue from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. The Goldman Sachs Group cut Fortescue from a “hold” rating to a “sell” rating and set a $16.90 target price on the stock. in a research report on Thursday, July 2nd. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $16.90.

About Fortescue

Fortescue (OTCMKTS:FSUGY) is the U.S. over‑the‑counter ticker for Fortescue Metals Group, an Australian company principally engaged in the exploration, mining, processing and sale of iron ore. Since its founding in 2003, the company has developed large‑scale open‑pit operations in the Pilbara region of Western Australia and built integrated infrastructure — including rail and port facilities — to move bulk shipments of iron ore to international steelmakers.

Fortescue’s core products are iron ore lump and fines, which it markets to customers around the world, with strong trade links to Asian steel producers.