Weg S.A. (OTCMKTS:WEGZY) Sees Large Growth in Short Interest

Weg S.A. (OTCMKTS:WEGZY) was the target of a large increase in short interest in June. As of June 30th, there was short interest totaling 35,953 shares, an increase of 441.5% from the June 15th total of 6,639 shares. Based on an average daily volume of 139,254 shares, the days-to-cover ratio is presently 0.3 days.

WEG Stock Up 1.5%

Shares of WEG stock traded up $0.13 on Friday, hitting $9.06. The company had a trading volume of 43,290 shares, compared to its average volume of 61,103. WEG has a twelve month low of $6.35 and a twelve month high of $10.80. The stock has a 50-day moving average of $8.78 and a 200-day moving average of $9.24.

About WEG

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.