Wesfarmers Limited (OTCMKTS:WFAFY) Sees Significant Decrease in Short Interest

Wesfarmers Limited (OTCMKTS:WFAFY) was the target of a large decrease in short interest in the month of September. As of September 15th, there was short interest totaling 2,590 shares, a decrease of 84.6% from the August 31st total of 16,764 shares. Based on an average daily volume of 296,678 shares, the days-to-cover ratio is presently 0.0 days.

Analyst Ratings Changes

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

Wesfarmers Trading Up 0.3%

Shares of Wesfarmers stock opened at $25.82 on Friday. Wesfarmers has a 12 month low of $24.50 and a 12 month high of $33.31. The business’s 50-day moving average price is $29.16 and its 200-day moving average price is $28.25.

Wesfarmers Company Profile

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.