WEG (OTCMKTS:WEGZY) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Weg S.A. (OTCMKTS:WEGZY) saw an uptick in trading volume on Thursday . 575,723 shares traded hands during mid-day trading, an increase of 862% from the previous session’s volume of 59,861 shares.The stock last traded at $9.15 and had previously closed at $9.25.

Analyst Ratings Changes

Several research firms have recently weighed in on WEGZY. Zacks Research raised WEG to a “hold” rating in a research report on Tuesday, July 21st. The Goldman Sachs Group raised shares of WEG from a “sell” rating to a “neutral” rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

WEG Stock Down 0.9%

The company’s fifty day moving average price is $8.92 and its two-hundred day moving average price is $9.28.

WEG (OTCMKTS:WEGZY) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.07. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.94 billion. On average, research analysts expect 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.