WEG (OTCMKTS:WEGZY) Sees Strong Trading Volume – Time to Buy?

Weg S.A. (OTCMKTS:WEGZY) shares saw unusually-strong trading volume on Thursday . 575,723 shares traded hands during trading, an increase of 862% from the previous session’s volume of 59,861 shares.The stock last traded at $9.15 and had previously closed at $9.25.

Analyst Ratings Changes

WEGZY has been the topic of a number of recent analyst reports. Zacks Research raised WEG to a “hold” rating in a research note on Tuesday, July 21st. The Goldman Sachs Group upgraded shares of WEG from a “sell” rating to a “neutral” rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, WEG presently has a consensus rating of “Hold”.

WEG Stock Performance

The stock’s 50 day moving average is $8.92 and its two-hundred day moving average is $9.28.

WEG (OTCMKTS:WEGZY) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.94 billion. On average, analysts predict that Weg S.A. will post 0.31 EPS for the current 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.