Weg S.A. (OTCMKTS:WEGZY) Sees Large Growth in Short Interest

Weg S.A. (OTCMKTS:WEGZY) saw a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 35,953 shares, a growth of 441.5% from the June 15th total of 6,639 shares. Based on an average daily volume of 139,254 shares, the days-to-cover ratio is currently 0.3 days.

WEG Stock Performance

Shares of WEGZY stock traded up $0.13 during midday trading on Friday, hitting $9.06. 43,290 shares of the company were exchanged, compared to its average volume of 61,103. WEG has a 52 week low of $6.35 and a 52 week high of $10.80. The firm’s 50 day moving average price is $8.78 and its two-hundred day moving average price is $9.24.

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.