WEG (OTCMKTS:WEGZY) Sees Large Volume Increase – Here’s What Happened

Shares of Weg S.A. (OTCMKTS:WEGZY) saw unusually-strong trading volume on Wednesday . 221,621 shares traded hands during mid-day 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.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WEGZY. Zacks Research upgraded shares of WEG to a “hold” rating in a research report on Tuesday, July 21st. The Goldman Sachs Group upgraded shares of WEG from a “sell” rating to a “neutral” rating in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

WEG Trading Down 0.5%

The business has a fifty day moving average price of $9.11 and a 200-day moving average price of $9.25.

WEG (OTCMKTS:WEGZY) last issued its earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share for the quarter, hitting 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. On average, analysts predict that Weg S.A. will post 0.31 EPS for the current 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.