WEG (OTCMKTS:WEGZY) Trading Up 0.6% – Still a Buy?

Weg S.A. (OTCMKTS:WEGZY) shot up 0.6% during mid-day trading on Friday . The company traded as high as $9.02 and last traded at $9.02. 41,242 shares traded hands during trading, a decline of 27% from the average session volume of 56,581 shares. The stock had previously closed at $8.97.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group began coverage on WEG in a research report on Wednesday, November 26th. They set a “buy” rating for the company. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

WEG Trading Up 0.6%

The firm’s 50-day moving average price is $9.53 and its two-hundred day moving average price is $8.45.

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.