Short Interest in Weg S.A. (OTCMKTS:WEGZY) Increases By 791.0%

Weg S.A. (OTCMKTS:WEGZY) was the target of a large increase in short interest in December. As of December 15th, there was short interest totaling 170,146 shares, an increase of 791.0% from the November 30th total of 19,097 shares. Based on an average trading volume of 97,032 shares, the days-to-cover ratio is currently 1.8 days. Based on an average trading volume of 97,032 shares, the days-to-cover ratio is currently 1.8 days.

WEG Stock Performance

WEGZY stock traded up $0.33 during trading hours on Wednesday, hitting $9.03. The company’s stock had a trading volume of 10,024 shares, compared to its average volume of 71,527. WEG has a 12 month low of $6.35 and a 12 month high of $9.83. The stock has a 50 day moving average price of $8.25 and a two-hundred day moving average price of $7.48.

WEG Announces Dividend

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

Analyst Ratings Changes

Separately, Jefferies Financial Group began coverage on WEG in a report on Wednesday, November 26th. They set a “buy” rating on the stock. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, WEG has an average rating of “Buy”.

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.