WEG (OTCMKTS:WEGZY) Stock Price Up 1.4% – Should You Buy?

Shares of Weg S.A. (OTCMKTS:WEGZY) rose 1.4% on Wednesday . The stock traded as high as $8.7250 and last traded at $8.68. Approximately 16,914 shares were traded during trading, a decline of 58% from the average daily volume of 40,346 shares. The stock had previously closed at $8.56.

Wall Street Analysts Forecast Growth

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

WEG Stock Up 1.4%

The firm’s fifty day moving average is $8.64 and its two-hundred day moving average is $7.62.

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.