WEG (OTCMKTS:WEGZY) Trading Up 0.9% – Here’s Why

Shares of Weg S.A. (OTCMKTS:WEGZY) rose 0.9% during mid-day 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 Ratings Changes

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

WEG Trading Up 0.9%

The firm has a fifty day simple moving average of $9.06 and a 200-day simple moving average 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.