WEG (OTCMKTS:WEGZY) Sees Strong Trading Volume – Here’s What Happened

Weg S.A. (OTCMKTS:WEGZY) shares saw strong trading volume on Wednesday . Approximately 221,621 shares traded hands during trading, an increase of 38% from the previous session’s volume of 160,168 shares.The stock last traded at $9.72 and had previously closed at $9.76.

Analyst Ratings Changes

Several brokerages have weighed in on WEGZY. Zacks Research upgraded WEG to a “hold” rating in a report on Tuesday, July 21st. The Goldman Sachs Group raised WEG from a “sell” rating to a “neutral” rating in a research report on Tuesday, July 28th. One equities research 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, WEG has a consensus rating of “Hold”.

WEG Trading Up 0.3%

The stock has a fifty day simple moving average of $9.15 and a 200-day simple moving average of $9.25.

WEG (OTCMKTS:WEGZY) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.07 EPS for the quarter, meeting analysts’ consensus estimates 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, sell-side analysts predict 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.