WEG (OTCMKTS:WEGZY) Shares Up 0.6% – Here’s Why

Shares of Weg S.A. (OTCMKTS:WEGZY) traded up 0.6% during trading on Friday . The company traded as high as $9.02 and last traded at $9.02. 41,242 shares were traded during trading, a decline of 27% from the average session volume of 56,581 shares. The stock had previously closed at $8.97.

Analysts Set New Price Targets

Separately, Jefferies Financial Group assumed coverage on shares of WEG in a research note on Wednesday, November 26th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy”.

WEG Stock Performance

The firm has a 50 day moving average of $9.53 and a 200-day moving average of $8.44.

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.