Fortescue Ltd (OTCMKTS:FSUGY) Short Interest Update

Fortescue Ltd (OTCMKTS:FSUGY) was the recipient of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 2,700 shares, a decrease of 28.9% from the March 15th total of 3,800 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 364,900 shares, the days-to-cover ratio is presently 0.0 days.

Wall Street Analyst Weigh In

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

Fortescue Price Performance

Shares of FSUGY traded up $0.25 during trading hours on Friday, reaching $19.17. The stock had a trading volume of 122,747 shares, compared to its average volume of 178,073. The company has a quick ratio of 2.10, a current ratio of 2.67 and a debt-to-equity ratio of 0.27. Fortescue has a 12 month low of $16.41 and a 12 month high of $36.87. The company’s 50-day moving average is $20.59 and its two-hundred day moving average is $23.04.

Fortescue Cuts Dividend

The company also recently announced a dividend, which was paid on Thursday, April 3rd. Shareholders of record on Monday, March 3rd were given a $0.6199 dividend. The ex-dividend date of this dividend was Monday, March 3rd.

About Fortescue

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.