Short Interest in Weg S.A. (OTCMKTS:WEGZY) Rises By 1,645.0%

Weg S.A. (OTCMKTS:WEGZY) was the recipient of a significant growth in short interest during the month of August. As of August 14th, there was short interest totaling 357,537 shares, a growth of 1,645.0% from the July 30th total of 20,489 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average trading volume of 753,201 shares, the short-interest ratio is currently 0.5 days.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Zacks Research upgraded WEG to a “hold” rating in a report 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 investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold”.

WEG Price Performance

Shares of WEGZY opened at $9.82 on Thursday. The stock has a 50 day moving average price of $9.13 and a two-hundred day moving average price of $9.25. WEG has a 52 week low of $6.57 and a 52 week high of $10.80.

WEG (OTCMKTS:WEGZY) last issued its quarterly earnings data 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 the consensus estimate of $1.94 billion. On average, equities analysts anticipate that WEG 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.