Western Forest Products (OTCMKTS:WFSTF) Stock Price Up 2,900% – Here’s Why

Shares of Western Forest Products Inc. (OTCMKTS:WFSTF) rose 2,900% during mid-day trading on Thursday . The stock traded as high as $9.24 and last traded at $9.15. Approximately 9,766 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 20,475 shares. The stock had previously closed at $0.31.

Wall Street Analysts Forecast Growth

WFSTF has been the topic of several research analyst reports. Scotiabank reiterated a “sector perform” rating on shares of Western Forest Products in a report on Monday, August 11th. Raymond James Financial reiterated a “market perform” rating on shares of Western Forest Products in a report on Friday, August 8th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

Western Forest Products Stock Up 2,900.0%

The stock’s fifty day simple moving average is $8.83 and its 200 day simple moving average is $8.84.

Western Forest Products Company Profile

Western Forest Products Inc operates as an integrated softwoods forest products company in Canada, the United States, Japan, China, Europe, and internationally. It is involved in timber harvesting, sawmilling logs into specialty lumber, value-added lumber and glulam remanufacturing, and wholesaling purchased lumber.