Wesfarmers Limited (OTCMKTS:WFAFY) Stock Short Interest Rises 2,007.8%

Wesfarmers Limited (OTCMKTS:WFAFY) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 54,592 shares, an increase of 2,007.8% from the September 15th total of 2,590 shares. Based on an average daily trading volume, of 373,204 shares, the days-to-cover ratio is currently 0.1 days.

Wesfarmers Price Performance

Shares of OTCMKTS:WFAFY traded up $0.55 during trading on Friday, reaching $27.00. 102,956 shares of the company’s stock traded hands, compared to its average volume of 105,118. Wesfarmers has a 12 month low of $24.50 and a 12 month high of $33.31. The company has a 50 day moving average of $28.25 and a 200-day moving average of $28.25.

Analyst Ratings Changes

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

About Wesfarmers

Wesfarmers Limited is an Australian diversified company with operations spanning retail, industrials and health. Its portfolio includes Bunnings, a retailer of home improvement and outdoor living products; Kmart and Target, which sell apparel, homewares and general merchandise; and Officeworks, a supplier of office products, technology and related services.

Wesfarmers also operates businesses in health and industrial markets. Wesfarmers Health includes Priceline Pharmacy and related health, beauty and wellness operations, while Wesfarmers Chemicals, Energy & Fertilisers supplies chemicals, industrial gases, fertilizers and energy products.