WEG (OTCMKTS:WEGZY) Reaches New 1-Year Low – Here’s What Happened

Weg S.A. (OTCMKTS:WEGZY)’s share price reached a new 52-week low on Monday. The stock traded as low as $7.10 and last traded at $7.81, with a volume of 17,699 shares changing hands. The stock had previously closed at $8.5405.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WEGZY. The Goldman Sachs Group raised shares of WEG from a “neutral” rating to a “buy” rating in a report on Monday. Zacks Research raised WEG to a “hold” rating in a research note on Tuesday, July 21st. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

WEG Price Performance

The company has a 50 day simple moving average of $9.75 and a 200-day simple moving average of $9.37.

WEG (OTCMKTS:WEGZY) last posted its quarterly earnings results on Wednesday, October 21st. The company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. The business had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.07 billion. As a group, equities analysts expect that Weg S.A. will post 0.31 EPS for the current year.

WEG Company Profile

WEG SA is a Brazilian industrial company that designs and manufactures electrical and electromechanical equipment. Its product portfolio includes electric motors, generators, transformers, drives, controls, automation systems, switchgear and other equipment used in industrial, commercial and infrastructure applications.

The company also provides solutions for electrical power generation, transmission and distribution, renewable energy, industrial automation and energy efficiency. WEG serves customers in industries such as oil and gas, mining, water and wastewater, manufacturing, transportation, utilities and construction.

Founded in 1961 in Jaraguá do Sul, Brazil, WEG has expanded from its domestic manufacturing base into an international business with operations, production facilities and sales networks serving customers across the Americas, Europe, Asia, Africa and Oceania.