Weg S.A. (OTCMKTS:WEGZY) Stock Short Interest Declines 81.1%

Weg S.A. (OTCMKTS:WEGZY) was the target of a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 7,171 shares, a decline of 81.1% from the September 30th total of 37,882 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 219,056 shares, the days-to-cover ratio is currently 0.0 days.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. The Goldman Sachs Group raised WEG from a “neutral” rating to a “buy” rating in a research report on Monday. Zacks Research upgraded WEG to a “hold” rating in a research note on Tuesday, July 21st. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

WEG Price Performance

OTCMKTS:WEGZY opened at $8.59 on Wednesday. WEG has a 12-month low of $7.10 and a 12-month high of $10.80. The firm has a 50-day moving average price of $9.75 and a 200 day moving average price of $9.37.

WEG (OTCMKTS:WEGZY) last issued its quarterly earnings data on Wednesday, October 21st. The company reported $0.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.08. The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.07 billion. As a group, equities analysts anticipate that WEG will post 0.31 EPS for the current year.

WEG Company Profile

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

The company also provides solutions for electrical power generation, transmission and distribution, renewable energy, industrial automation and energy efficiency. WEG serves customers in industries such as oil and gas, mining, water and wastewater, manufacturing, transportation, utilities and construction.

Founded in 1961 in Jaraguá do Sul, Brazil, WEG has expanded from its domestic manufacturing base into an international business with operations, production facilities and sales networks serving customers across the Americas, Europe, Asia, Africa and Oceania.