WEG (OTCMKTS:WEGZY) Shares Up 0.9% – Time to Buy?

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

Analyst Upgrades and Downgrades

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

WEG Price Performance

The company has a fifty day moving average price of $9.06 and a 200-day moving average price of $7.84.

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.