WEG (OTCMKTS:WEGZY) Trading Up 0.9% – What’s Next?

Shares of Weg S.A. (OTCMKTS:WEGZY) rose 0.9% during mid-day trading on Thursday . The company traded as high as $10.1640 and last traded at $9.99. Approximately 29,238 shares changed hands during trading, a decline of 29% from the average daily volume of 40,943 shares. The stock had previously closed at $9.8980.

Analysts Set New Price Targets

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

WEG Stock Performance

The business has a 50 day moving average of $9.09 and a 200-day moving average of $7.86.

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.