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

Weg S.A. (OTCMKTS:WEGZY) saw a significant decrease in short interest during the month of October. As of October 15th, there was short interest totaling 7,171 shares, a decrease of 81.1% from the September 30th total of 37,882 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average trading volume of 219,056 shares, the days-to-cover ratio is currently 0.0 days.

WEG Stock Up 2.9%

OTCMKTS:WEGZY opened at $8.79 on Thursday. The company has a market capitalization of $36.89 billion and a price-to-earnings ratio of 30.31. WEG has a one year low of $7.10 and a one year high of $10.80. The stock has a 50-day simple moving average of $9.74 and a 200 day simple moving average of $9.37. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.59.

WEG (OTCMKTS:WEGZY) last announced its quarterly earnings data on Wednesday, October 21st. The company reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08. WEG had a return on equity of 32.99% and a net margin of 15.39%. The firm had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.07 billion. Sell-side analysts predict that WEG will post 0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

WEGZY has been the topic of several research reports. Zacks Research upgraded shares of WEG to a “hold” rating in a report on Tuesday, July 21st. The Goldman Sachs Group raised WEG from a “neutral” rating to a “buy” rating in a report on Monday. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, WEG has an average rating of “Moderate Buy”.

About WEG

WEG SA is a Brazilian industrial company that designs and manufactures electrical and electromechanical equipment. Its product portfolio includes electric motors, generators, transformers, drives, controls, automation systems, switchgear and other equipment used in industrial, commercial and infrastructure applications.

The company also provides solutions for electrical power generation, transmission and distribution, renewable energy, industrial automation and energy efficiency. WEG serves customers in industries such as oil and gas, mining, water and wastewater, manufacturing, transportation, utilities and construction.

Founded in 1961 in Jaraguá do Sul, Brazil, WEG has expanded from its domestic manufacturing base into an international business with operations, production facilities and sales networks serving customers across the Americas, Europe, Asia, Africa and Oceania.