WEG (OTCMKTS:WEGZY) Sees Large Volume Increase – What’s Next?

Weg S.A. (OTCMKTS:WEGZY) saw an uptick in trading volume on Thursday . Approximately 883,812 shares were traded during mid-day 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 Ratings Changes

Several equities research analysts recently weighed in on WEGZY shares. Zacks Research raised WEG to a “hold” rating in a report on Tuesday, July 21st. The Goldman Sachs Group raised shares of WEG from a “sell” rating to a “neutral” rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

WEG Price Performance

The stock’s 50-day moving average is $9.02 and its 200 day moving average is $9.26.

WEG (OTCMKTS:WEGZY) last released its earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.94 billion. Equities analysts forecast that Weg S.A. will post 0.31 EPS for the current year.

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.