WEG (OTCMKTS:WEGZY) Shares Down 6.5% – Should You Sell?

Weg S.A. (OTCMKTS:WEGZY)’s stock price dropped 6.5% during trading on Tuesday . The stock traded as low as $8.55 and last traded at $8.70. Approximately 24,733 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 71,778 shares. The stock had previously closed at $9.30.

Analysts Set New Price Targets

Separately, Jefferies Financial Group started coverage on WEG in a research note on Wednesday, November 26th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, WEG has an average rating of “Buy”.

WEG Price Performance

The business’s 50-day simple moving average is $8.25 and its two-hundred day simple moving average is $7.48.

WEG Announces Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, March 18th. Investors of record on Monday, October 6th will be issued a $0.0136 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a yield of 163.0%. WEG’s dividend payout ratio is currently 24.44%.

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.