Short Interest in Wesfarmers Limited (OTCMKTS:WFAFY) Rises By 313.6%

Wesfarmers Limited (OTCMKTS:WFAFY) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totaling 16,764 shares, an increase 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 currently 0.1 days.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WFAFY. The Goldman Sachs Group lowered Wesfarmers from a “neutral” rating to a “sell” rating in a research note on Wednesday, July 1st. Jefferies Financial Group downgraded Wesfarmers to an “underperform” rating and set a $73.00 price target for the company. in a research report on Monday, July 27th. Finally, Royal Bank Of Canada began coverage on Wesfarmers in a report on Thursday, July 30th. They set an “underperform” rating and a $73.00 price objective for the company. Three analysts have rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Strong Sell” and a consensus price target of $73.00.

Wesfarmers Stock Performance

Wesfarmers stock opened at $26.08 on Friday. Wesfarmers has a fifty-two week low of $24.50 and a fifty-two week high of $33.31. The firm’s fifty day moving average price is $30.31 and its 200-day moving average price is $28.40.

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.