WEG (OTCMKTS:WEGZY) Sees Large Volume Increase – Here’s Why

Weg S.A. (OTCMKTS:WEGZY) shares saw unusually-high trading volume on Thursday . 575,723 shares traded hands during trading, an increase of 862% from the previous session’s volume of 59,861 shares.The stock last traded at $9.15 and had previously closed at $9.25.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on WEGZY shares. The Goldman Sachs Group upgraded WEG from a “sell” rating to a “neutral” rating in a research note on Tuesday, July 28th. Zacks Research raised WEG to a “hold” rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

WEG Price Performance

The stock’s 50-day moving average is $8.96 and its 200-day moving average is $9.28.

WEG (OTCMKTS:WEGZY) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.94 billion. On average, equities analysts forecast that Weg S.A. will post 0.31 earnings per share for the current fiscal year.

WEG Company Profile

WEG SA, trading in the U.S. over-the-counter as WEGZY, is a Brazilian multinational corporation specializing in the manufacture and distribution of electric motors, automation technologies and power generation equipment. The company’s portfolio spans low-, medium- and high-voltage electric machines, variable frequency drives and control systems designed for a wide array of industrial applications. WEG also offers transformer solutions and integrated automation products that support sectors including oil and gas, mining, pulp and paper, and infrastructure.

Founded in 1961 in Jaraguá do Sul, Brazil, WEG has grown from a small electric motor shop into one of the world’s largest industrial equipment manufacturers.