WEG (OTCMKTS:WEGZY) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Weg S.A. (OTCMKTS:WEGZY) saw an uptick in trading volume on Thursday . Approximately 883,812 shares traded hands during trading, an increase of 651% from the previous session’s volume of 117,682 shares.The stock last traded at $9.48 and had previously closed at $9.4090.

Wall Street Analyst Weigh In

Several brokerages have commented on WEGZY. Zacks Research raised shares of WEG to a “hold” rating in a research note on Tuesday, July 21st. The Goldman Sachs Group raised shares of WEG from a “sell” rating to a “neutral” rating in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, WEG currently has an average rating of “Hold”.

WEG Stock Up 2.9%

The firm has a fifty day simple moving average of $9.06 and a 200-day simple moving average of $9.26.

WEG (OTCMKTS:WEGZY) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.07 earnings per share for the quarter, meeting the consensus estimate of $0.07. The business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.94 billion. On average, sell-side analysts predict that Weg S.A. will post 0.31 EPS for the current fiscal 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.