Western Forest Products (OTCMKTS:WFSTF) Shares Down 9.3% – Here’s Why

Western Forest Products Inc. (OTCMKTS:WFSTF) shares traded down 9.3% during mid-day trading on Wednesday . The company traded as low as $10.3150 and last traded at $11.0540. 31,835 shares traded hands during trading, an increase of 316% from the average session volume of 7,648 shares. The stock had previously closed at $12.19.

Analysts Set New Price Targets

Separately, Scotiabank reissued a “sector perform” rating on shares of Western Forest Products in a research note on Monday, January 26th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Western Forest Products presently has an average rating of “Hold”.

Western Forest Products Stock Performance

The stock’s 50-day moving average is $9.35 and its 200-day moving average is $8.90.

About Western Forest Products

Western Forest Products is a Canadian integrated forest products company headquartered in Vancouver, British Columbia. The company specializes in the harvesting, manufacturing and distribution of lumber and other wood products, operating a network of sawmills, remanufacturing facilities and log sort yards on both the British Columbia coast and Vancouver Island. Western Forest manages a diversified fibre portfolio that supports core lumber production as well as specialty lines.

The company’s product suite includes dimensional lumber, engineered wood products such as laminated veneer lumber (LVL), and value-added remanufactured items including mouldings and custom profiles.