WEG (OTCMKTS:WEGZY) Sees Unusually-High Trading Volume – What’s Next?

Weg S.A. (OTCMKTS:WEGZY) saw strong trading volume on Wednesday . 339,081 shares were traded during trading, an increase of 92% from the previous session’s volume of 176,983 shares.The stock last traded at $10.01 and had previously closed at $10.3285.

Analysts Set New Price Targets

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

WEG Price Performance

The business has a 50-day moving average of $9.34 and a 200 day moving average of $9.23.

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

About WEG

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.