WEG (OTCMKTS:WEGZY) Sees Large Volume Increase – Still a Buy?

Shares of Weg S.A. (OTCMKTS:WEGZY) saw unusually-high trading volume on Wednesday . Approximately 339,081 shares traded hands during mid-day 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.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WEGZY. Zacks Research upgraded WEG to a “hold” rating in a 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’s stock. Based on data from MarketBeat, WEG has a consensus rating of “Hold”.

WEG Trading Down 1.7%

The firm has a 50-day simple moving average of $9.29 and a 200 day simple moving average of $9.23.

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

About WEG

WEG SA is a Brazilian manufacturer of electrical and industrial equipment. The company develops and produces electric motors, generators, transformers, drives, automation systems, control equipment and related components used in industrial, commercial, infrastructure and energy applications.

Its business also includes power generation, transmission and distribution solutions, industrial automation, renewable-energy equipment, electric mobility products, and industrial paints and coatings.