Wesfarmers Limited (OTCMKTS:WFAFY – Get Free Report) was the recipient of a large increase in short interest in June. As of June 30th, there was short interest totaling 93,313 shares, an increase of 567.5% from the June 15th total of 13,980 shares. Based on an average daily volume of 182,716 shares, the days-to-cover ratio is currently 0.5 days.
Analysts Set New Price Targets
Separately, The Goldman Sachs Group lowered shares of Wesfarmers from a “neutral” rating to a “sell” rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Wesfarmers currently has an average rating of “Sell”.
Read Our Latest Stock Report on Wesfarmers
Wesfarmers Stock Down 1.0%
About Wesfarmers
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.
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