Wesfarmers Limited (OTCMKTS:WFAFY) Short Interest Update

Wesfarmers Limited (OTCMKTS:WFAFY) was the recipient of a significant drop in short interest in July. As of July 31st, there was short interest totaling 10,382 shares, a drop of 86.5% from the July 15th total of 76,914 shares. Based on an average trading volume of 92,207 shares, the days-to-cover ratio is currently 0.1 days.

Wall Street Analysts Forecast Growth

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

Wesfarmers Stock Up 0.2%

Shares of Wesfarmers stock opened at $31.54 on Thursday. The stock has a 50 day moving average price of $30.80 and a two-hundred day moving average price of $28.60. Wesfarmers has a 12-month low of $24.50 and a 12-month high of $33.31.

Wesfarmers Company Profile

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.