Weg S.A. (OTCMKTS:WEGZY) Short Interest Update

Weg S.A. (OTCMKTS:WEGZY) was the target of a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 30,505 shares, a drop of 91.5% from the August 15th total of 357,537 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 2,808,228 shares, the days-to-cover ratio is presently 0.0 days.

WEG Trading Up 0.9%

Shares of WEG stock traded up $0.10 during midday trading on Thursday, hitting $10.30. 69,915 shares of the company traded hands, compared to its average volume of 189,760. The firm’s fifty day moving average price is $9.32 and its 200-day moving average price is $9.23. WEG has a 12 month low of $6.57 and a 12 month high of $10.80.

WEG (OTCMKTS:WEGZY) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.07 EPS for the quarter, meeting the consensus estimate of $0.07. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.94 billion. Equities research analysts forecast that WEG will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WEGZY has been the topic of several recent analyst reports. The Goldman Sachs Group upgraded WEG from a “sell” rating to a “neutral” rating in a research note on Tuesday, July 28th. Zacks Research upgraded WEG to a “hold” rating in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

WEG Company Profile

WEG SA is a Brazilian industrial company that develops and manufactures electrical equipment and automation solutions. Its product portfolio includes electric motors, generators, alternators, transformers, drives, controls, switchgear and other systems used in industrial, commercial, infrastructure and energy applications.

The company also produces industrial coatings, varnishes and related products, as well as equipment and solutions for power generation, transmission and distribution.