Weg S.A. (OTCMKTS:WEGZY) Short Interest Update

Weg S.A. (OTCMKTS:WEGZY) was the recipient of a significant drop in short interest in August. As of August 31st, there was short interest totaling 30,505 shares, a drop of 91.5% from the August 15th total of 357,537 shares. Based on an average daily volume of 2,808,228 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the company’s shares are sold short.

WEG Stock Performance

OTCMKTS WEGZY traded up $0.10 on Thursday, reaching $10.30. The company had a trading volume of 69,915 shares, compared to its average volume of 189,760. WEG has a fifty-two week low of $6.57 and a fifty-two week high of $10.80. The business has a 50 day moving average of $9.32 and a two-hundred day moving average of $9.23.

WEG (OTCMKTS:WEGZY) last announced its earnings results on Wednesday, August 5th. The company reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.94 billion. Sell-side analysts expect that WEG will post 0.31 EPS for the current year.

Analyst Upgrades and Downgrades

WEGZY has been the subject of several recent research reports. The Goldman Sachs Group raised WEG from a “sell” rating to a “neutral” rating in a research note on Tuesday, July 28th. Zacks Research upgraded shares of WEG to a “hold” rating in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

WEG Company Profile

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

The company also produces industrial coatings, varnishes and related products, as well as equipment and solutions for power generation, transmission and distribution.