Short Interest in Wesfarmers Limited (OTCMKTS:WFAFY) Expands By 567.5%

Wesfarmers Limited (OTCMKTS:WFAFY) was the recipient of a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 93,313 shares, an increase of 567.5% from the June 15th total of 13,980 shares. Based on an average trading volume of 182,716 shares, the days-to-cover ratio is presently 0.5 days.

Wesfarmers Price Performance

OTCMKTS WFAFY traded down $0.31 during mid-day trading on Friday, reaching $31.15. 28,901 shares of the company’s stock traded hands, compared to its average volume of 106,676. Wesfarmers has a 1-year low of $24.50 and a 1-year high of $33.31. The company has a fifty day simple moving average of $28.55 and a 200-day simple moving average of $27.91.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group lowered shares of Wesfarmers from a “neutral” rating to a “sell” rating in a research note on Wednesday, July 1st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

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.