The Weir Group PLC (OTCMKTS:WEGRY) Sees Large Increase in Short Interest

The Weir Group PLC (OTCMKTS:WEGRY) saw a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 26,100 shares, a growth of 1,034.8% from the July 31st total of 2,300 shares. Based on an average daily volume of 25,300 shares, the short-interest ratio is currently 1.0 days.

The Weir Group Trading Up 0.3 %

Shares of OTCMKTS WEGRY traded up $0.04 during mid-day trading on Wednesday, reaching $13.00. 8,931 shares of the company’s stock were exchanged, compared to its average volume of 8,198. The business has a fifty day simple moving average of $12.71 and a 200 day simple moving average of $12.74. The Weir Group has a twelve month low of $9.90 and a twelve month high of $14.18.

Analyst Ratings Changes

Several brokerages have recently commented on WEGRY. Royal Bank of Canada upgraded The Weir Group to a “moderate buy” rating in a report on Wednesday, July 31st. Berenberg Bank upgraded The Weir Group to a “strong-buy” rating in a report on Wednesday, May 22nd. Finally, Barclays raised The Weir Group to a “strong-buy” rating in a research note on Wednesday, July 31st.

About The Weir Group

The Weir Group PLC produces and sells highly engineered original equipment worldwide. It operates in two segments, Minerals and ESCO. The Minerals segment offers engineering, manufacturing, and service processing technology for the use in abrasive high-wear mining applications; and differentiated technology for the use in infrastructure and general industrial markets.