Weg S.A. (OTCMKTS:WEGZY) Short Interest Up 1,645.0% in August

Weg S.A. (OTCMKTS:WEGZY) saw a significant growth in short interest in August. As of August 14th, there was short interest totaling 357,537 shares, a growth of 1,645.0% from the July 30th total of 20,489 shares. Based on an average trading volume of 753,201 shares, the short-interest ratio is presently 0.5 days. Currently, 0.0% of the company’s stock are sold short.

WEG Stock Up 2.1%

OTCMKTS:WEGZY opened at $9.76 on Wednesday. The stock’s 50-day simple moving average is $9.11 and its 200 day simple moving average is $9.25. WEG has a 52-week low of $6.57 and a 52-week high of $10.80.

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 company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.94 billion. On average, analysts expect that WEG will post 0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

WEGZY has been the topic of several research reports. The Goldman Sachs Group raised shares of WEG from a “sell” rating to a “neutral” rating in a research report on Tuesday, July 28th. Zacks Research upgraded WEG to a “hold” rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, WEG presently has a consensus rating of “Hold”.

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.