Short Interest in Wesfarmers Limited (OTCMKTS:WFAFY) Declines By 61.0%

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

Wesfarmers Trading Down 2.2%

Shares of OTCMKTS WFAFY opened at $28.43 on Friday. The firm has a 50-day simple moving average of $30.94 and a 200-day simple moving average of $28.64. Wesfarmers has a 52 week low of $24.50 and a 52 week high of $33.31.

Wall Street Analysts Forecast Growth

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

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.