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

Fortescue Ltd (OTCMKTS:FSUGY) was the recipient of a large decrease in short interest in March. As of March 15th, there was short interest totalling 3,800 shares, a decrease of 63.1% from the February 28th total of 10,300 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 429,400 shares, the days-to-cover ratio is currently 0.0 days.

Fortescue Trading Down 3.0 %

FSUGY stock traded down $0.60 during trading hours on Friday, hitting $19.72. 159,097 shares of the stock were exchanged, compared to its average volume of 142,404. Fortescue has a 12 month low of $19.39 and a 12 month high of $36.87. The company has a quick ratio of 2.10, a current ratio of 2.67 and a debt-to-equity ratio of 0.27. The company has a 50-day simple moving average of $22.36 and a two-hundred day simple moving average of $23.77.

Fortescue Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Monday, March 3rd will be paid a $0.6199 dividend. The ex-dividend date is 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.