Weir Group (OTCMKTS:WEGRY) Shares Gap Down – Time to Sell?

Weir Group (OTCMKTS:WEGRY) gapped down prior to trading on Thursday. The stock had previously closed at $17.95, but opened at $16.92. Weir Group shares last traded at $16.92, with a volume of 115 shares.

Analysts Set New Price Targets

Several research analysts have recently commented on WEGRY shares. Citigroup reissued a “buy” rating on shares of Weir Group in a report on Friday. Kepler Capital Markets raised shares of Weir Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, June 17th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Weir Group in a report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Weir Group presently has an average rating of “Moderate Buy”.

Weir Group Stock Performance

The business’s 50 day moving average price is $18.47 and its two-hundred day moving average price is $18.02.

Weir Group Company Profile

The Weir Group plc is a Glasgow-based engineering company that develops equipment and technology for the mining and minerals-processing industries. Its products are designed to help customers extract, transport, process and manage mineral resources, with a focus on improving operational efficiency, reliability and sustainability.

Through its Weir Minerals business, the company supplies pumps, crushers, screens, hydrocyclones, mill liners, valves and other equipment used in applications including comminution, slurry transportation, classification and dewatering.