Wesfarmers Limited (OTCMKTS:WFAFY) Sees Large Drop in Short Interest

Wesfarmers Limited (OTCMKTS:WFAFY) saw a large decline in short interest during the month of August. As of August 14th, there was short interest totaling 4,053 shares, a decline of 61.0% from the July 30th total of 10,382 shares. Based on an average trading volume of 75,262 shares, the short-interest ratio is presently 0.1 days.

Analysts Set New Price Targets

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

Wesfarmers Trading Down 2.2%

Shares of OTCMKTS WFAFY opened at $28.43 on Friday. The firm’s 50 day simple moving average is $30.94 and its two-hundred day simple moving average is $28.64. Wesfarmers has a one year low of $24.50 and a one year 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.