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

Weg S.A. (OTCMKTS:WEGZY – Get Free Report) saw a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 357,537 shares, an increase of 1,645.0% from the July 30th total of 20,489 shares. Based on an average daily volume of 753,201 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.0% of the company’s stock are sold short.

Wall Street Analyst Weigh In

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

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WEG Stock Up 2.1%

WEGZY traded up $0.20 on Tuesday, hitting $9.76. The company had a trading volume of 2,018,738 shares, compared to its average volume of 160,419. The company’s fifty day moving average price is $9.09 and its 200 day moving average price is $9.25. WEG has a 1-year low of $6.57 and a 1-year high of $10.80.

WEG (OTCMKTS:WEGZY – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 EPS for the quarter, meeting the consensus estimate of $0.07. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.94 billion. Research analysts forecast that WEG will post 0.31 EPS for the current year.

About WEG

(Get Free Report)

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.

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