WEG (OTCMKTS:WEGZY) Sees Unusually-High Trading Volume – Still a Buy?

Weg S.A. (OTCMKTS:WEGZY) saw an uptick in trading volume on Tuesday . Approximately 324,903 shares were traded 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.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. The Goldman Sachs Group upgraded WEG from a “sell” rating to a “neutral” rating in a research report on Tuesday, July 28th. Zacks Research upgraded WEG to a “hold” rating in a report on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, WEG presently has an average rating of “Hold”.

WEG Trading Up 1.6%

The stock’s fifty day simple moving average is $9.19 and its 200-day simple moving average is $9.23.

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