Woolworths Group (OTCMKTS:WOLWF) Shares Up 11.7% – Here’s What Happened

Woolworths Group Limited (OTCMKTS:WOLWF)’s share price rose 11.7% during mid-day trading on Wednesday . The stock traded as high as $22.11 and last traded at $22.11. Approximately 279 shares were traded during mid-day trading, an increase of 16% from the average daily volume of 240 shares. The stock had previously closed at $19.80.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group started coverage on shares of Woolworths Group in a research note on Monday. They set a “buy” rating and a $37.00 target price for the company. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

Woolworths Group Stock Up 11.7%

The stock has a 50-day simple moving average of $19.30 and a 200 day simple moving average of $18.78.

Woolworths Group Company Profile

Woolworths Group is one of Australia’s leading retail companies, operating a diversified portfolio of supermarket, liquor, and general merchandise banners. Founded in 1924 and headquartered in Bella Vista, New South Wales, the company grew from a single variety store into a national retailer with more than 1,000 Woolworths Supermarkets, Big W discount department stores, and an extensive network of convenience and Metro outlets across Australia and New Zealand. Its core supermarket segment offers fresh produce, meat, bakery, deli, seafood, and everyday grocery items, while its general merchandise arm provides clothing, home goods, electronics and seasonal products.

In addition to supermarkets and discount department stores, Woolworths Group operates several specialty liquor brands, including BWS, Dan Murphy’s and Cellarmasters, following the demerger of Endeavour Group in 2021.