Weg S.A. (OTCMKTS:WEGZY) Shares Shorted: Short Interest Down 81.1% in October

Key Points

• WEG’s short interest fell 81.1% in October to 7,171 shares, representing 0.0% of shares outstanding and a short-interest ratio of 0.0 days.
• The stock opened at $8.24, with a $34.59 billion market capitalization, a P/E ratio of 29.45, and a 52-week trading range of $7.10 to $10.80.
• WEG met quarterly EPS expectations at $0.08 and exceeded revenue estimates with $2.11 billion; Goldman Sachs upgraded the stock to “buy,” contributing to a consensus “Moderate Buy” rating.

Weg S.A. (OTCMKTS:WEGZY - Get Free Report) was the target of a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 7,171 shares, a decline of 81.1% from the September 30th total of 37,882 shares. Based on an average trading volume of 219,056 shares, the short-interest ratio is presently 0.0 days. Currently, 0.0% of the shares of the company are sold short.

WEG Stock Performance

Shares of WEGZY stock opened at $8.24 on Tuesday. The stock has a market cap of $34.59 billion and a PE ratio of 29.45. The business has a 50-day simple moving average of $9.79 and a 200-day simple moving average of $9.38. The company has a quick ratio of 1.02, a current ratio of 1.59 and a debt-to-equity ratio of 0.12. WEG has a 52-week low of $7.10 and a 52-week high of $10.80.

WEG (OTCMKTS:WEGZY - Get Free Report) last posted its earnings results on Wednesday, October 21st. The company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.07 billion. WEG had a return on equity of 32.99% and a net margin of 15.39%. On average, equities analysts expect that WEG will post 0.31 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group upgraded shares of WEG from a "neutral" rating to a "buy" rating in a research note on Monday. Zacks Research raised shares of WEG to a "hold" rating in a report on Tuesday, July 21st. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, WEG currently 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.

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