WEG (OTCMKTS:WEGZY) Sees Strong Trading Volume – Should You Buy?

Shares of Weg S.A. (OTCMKTS:WEGZY) saw unusually-strong trading volume on Tuesday . Approximately 324,903 shares traded hands during mid-day trading, an increase of 87% from the previous session’s volume of 173,900 shares.The stock last traded at $9.7750 and had previously closed at $9.76.

Analyst Ratings Changes

Several research firms have weighed in on WEGZY. The Goldman Sachs Group upgraded shares of WEG from a “sell” rating to a “neutral” rating in a report on Tuesday, July 28th. Zacks Research raised shares of WEG to a “hold” rating in a research report on Tuesday, July 21st. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, WEG currently has a consensus rating of “Hold”.

WEG Price Performance

The business has a 50-day moving average of $9.17 and a 200 day moving average of $9.24.

WEG (OTCMKTS:WEGZY) last posted its earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.94 billion. As a group, equities analysts anticipate that Weg S.A. will post 0.31 earnings per share for the current fiscal year.

About WEG

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.