WEG (OTCMKTS:WEGZY) Shares Gap Up – What’s Next?

Weg S.A. (OTCMKTS:WEGZY)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $9.04, but opened at $9.64. WEG shares last traded at $9.24, with a volume of 8,702 shares.

Analysts Set New Price Targets

Separately, Zacks Research raised WEG to a “hold” rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, WEG currently has a consensus rating of “Moderate Buy”.

WEG Stock Down 0.9%

The firm has a market cap of $37.61 billion and a P/E ratio of 7.70. The stock’s 50-day simple moving average is $8.73 and its 200 day simple moving average is $9.23.

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.