Short Interest in Wesfarmers Limited (OTCMKTS:WFAFY) Rises By 313.6%
by Jessica Moore · The Cerbat GemWesfarmers Limited (OTCMKTS:WFAFY – Get Free Report) saw a large growth in short interest in August. As of August 31st, there was short interest totaling 16,764 shares, a growth of 313.6% from the August 15th total of 4,053 shares. Based on an average daily trading volume, of 127,262 shares, the days-to-cover ratio is presently 0.1 days.
Wesfarmers Price Performance
Shares of Wesfarmers stock opened at $26.08 on Friday. Wesfarmers has a 12-month low of $24.50 and a 12-month high of $33.31. The company’s 50-day moving average price is $30.31 and its 200-day moving average price is $28.40.
Analyst Ratings Changes
Several research analysts recently commented on WFAFY shares. The Goldman Sachs Group downgraded shares of Wesfarmers from a “neutral” rating to a “sell” rating in a report on Wednesday, July 1st. Jefferies Financial Group cut shares of Wesfarmers to an “underperform” rating and set a $73.00 target price on the stock. in a report on Monday, July 27th. Finally, Royal Bank Of Canada began coverage on Wesfarmers in a research report on Thursday, July 30th. They set an “underperform” rating and a $73.00 target price on the stock. Three analysts have rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Strong Sell” and an average price target of $73.00.
View Our Latest Report on WFAFY
About Wesfarmers
Wesfarmers Limited is one of Australia’s largest diversified corporations, headquartered in Perth, Western Australia. Established in 1914 as a farmers’ cooperative, the company has evolved into a broad-based conglomerate with operations spanning retail, industrials, chemicals, energy and resources. Wesfarmers is listed on the Australian Securities Exchange and trades in the United States over-the-counter under the symbol WFAFY.
In the retail sector, Wesfarmers owns and operates a number of high-profile brands, including Bunnings Warehouse, Kmart, Target and Officeworks.