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

Fortescue Ltd (OTCMKTS:FSUGY) saw a significant drop in short interest in January. As of January 15th, there was short interest totalling 28,800 shares, a drop of 68.0% from the December 31st total of 89,900 shares. Based on an average daily trading volume, of 285,500 shares, the short-interest ratio is presently 0.1 days.

Fortescue Price Performance

Shares of OTCMKTS FSUGY traded up $0.30 during midday trading on Wednesday, hitting $23.78. 60,992 shares of the company’s stock were exchanged, compared to its average volume of 119,516. The business’s fifty day moving average price is $23.64 and its two-hundred day moving average price is $24.66. 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 $21.11 and a 12-month high of $39.32.

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.