WEG (OTCMKTS:WEGZY) Sees Large Volume Increase – Time to Buy?

Shares of Weg S.A. (OTCMKTS:WEGZY) saw unusually-strong trading volume on Wednesday . 221,621 shares traded hands during trading, an increase of 38% from the previous session’s volume of 160,168 shares.The stock last traded at $9.72 and had previously closed at $9.76.

Wall Street Analysts Forecast Growth

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

WEG Stock Down 0.5%

The firm has a 50 day moving average price of $9.11 and a 200 day moving average price of $9.25.

WEG (OTCMKTS:WEGZY) last released its earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share for the quarter, meeting the consensus estimate of $0.07. The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.94 billion. As a group, research analysts anticipate that Weg S.A. will post 0.31 earnings per share for the current fiscal 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.