WEG (OTCMKTS:WEGZY) Stock Price Down 6.5% – Should You Sell?

Weg S.A. (OTCMKTS:WEGZY) shares were down 6.5% during trading on Tuesday . The company traded as low as $8.55 and last traded at $8.70. Approximately 24,733 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 71,778 shares. The stock had previously closed at $9.30.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group assumed coverage on WEG in a report on Wednesday, November 26th. They set a “buy” rating on the stock. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

WEG Trading Up 3.8%

The business has a fifty day simple moving average of $8.30 and a 200 day simple moving average of $7.49.

WEG Dividend Announcement

The company also recently declared a dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Monday, October 6th will be paid a $0.0136 dividend. This represents a dividend yield of 163.0%. The ex-dividend date is Friday, October 3rd. WEG’s dividend payout ratio is presently 24.44%.

WEG Company Profile

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.