WEG (OTCMKTS:WEGZY) Sees Unusually-High Trading Volume – Time to Buy?

Weg S.A. (OTCMKTS:WEGZY) shares saw unusually-high trading volume on Thursday . 883,812 shares traded hands during trading, an increase of 651% from the previous session’s volume of 117,682 shares.The stock last traded at $9.48 and had previously closed at $9.4090.

Analyst Upgrades and Downgrades

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

WEG Stock Performance

The business has a 50 day moving average of $9.02 and a 200-day moving average of $9.26.

WEG (OTCMKTS:WEGZY) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 EPS for the quarter, meeting the consensus estimate of $0.07. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.94 billion. As a group, analysts expect 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.