Western Forest Products Inc. (OTCMKTS:WFSTF) Sees Significant Growth in Short Interest

Financial News Live ·  Jan 20, 2023 09:11

Western Forest Products Inc. (OTCMKTS:WFSTF – Get Rating) was the target of a large increase in short interest during the month of December. As of December 30th, there was short interest totalling 1,196,300 shares, an increase of 52.8% from the December 15th total of 782,700 shares. Based on an average daily volume of 21,600 shares, the short-interest ratio is presently 55.4 days.

Western Forest Products Trading Down 3.3 %

WFSTF opened at $0.94 on Friday. Western Forest Products has a twelve month low of $0.79 and a twelve month high of $1.80. The company has a fifty day moving average of $0.86 and a 200-day moving average of $1.00.

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Western Forest Products Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, December 16th. Stockholders of record on Friday, November 25th were given a dividend of $0.0092 per share. This represents a dividend yield of 4.35%. The ex-dividend date of this dividend was Thursday, November 24th.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. TD Securities downgraded shares of Western Forest Products from a "buy" rating to a "hold" rating in a research note on Monday, November 7th. Scotiabank dropped their price target on shares of Western Forest Products from C$2.00 to C$1.75 in a research note on Monday, January 9th. Royal Bank of Canada dropped their price target on shares of Western Forest Products from C$1.75 to C$1.50 in a research note on Friday, November 4th. CIBC dropped their price target on shares of Western Forest Products from C$1.50 to C$1.25 in a research note on Tuesday, January 10th. Finally, Raymond James downgraded shares of Western Forest Products from an "outperform" rating to a "market perform" rating in a research note on Monday, October 24th.

Western Forest Products Company Profile

(Get Rating)

Western Forest Products Inc engages in the timber harvesting, sawmilling logs into specialty lumber, value-added lumber remanufacturing, and lumber purchasing and wholesaling businesses. Its products have applications in outdoor living; exterior appearance; interior living; and structural applications.

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