WEG (OTCMKTS:WEGZY) Trading Up 0.4% – Should You Buy?

Weg S.A. (OTCMKTS:WEGZY)’s stock price traded up 0.4% during mid-day trading on Friday . The stock traded as high as $9.70 and last traded at $9.64. 48,749 shares changed hands during trading, a decline of 9% from the average session volume of 53,365 shares. The stock had previously closed at $9.6030.

Analysts Set New Price Targets

Separately, Jefferies Financial Group initiated coverage on shares of WEG in a research note on Wednesday, November 26th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy”.

WEG Price Performance

The stock has a fifty day moving average price of $9.48 and a two-hundred day moving average price of $8.21.

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.