The Weir Group PLC (OTCMKTS:WEGRY) Short Interest Update

Posted by MarketBeat News on May 26th, 2023

The Weir Group PLC (OTCMKTS:WEGRY – Get Rating) was the target of a significant growth in short interest in May. As of May 15th, there was short interest totalling 1,900 shares, a growth of 137.5% from the April 30th total of 800 shares. Based on an average daily trading volume, of 1,600 shares, the days-to-cover ratio is presently 1.2 days.

The Weir Group Price Performance

WEGRY stock opened at $10.72 on Friday. The company has a current ratio of 1.80, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62. The Weir Group has a 1 year low of $7.51 and a 1 year high of $12.20. The stock’s fifty day moving average is $11.28 and its two-hundred day moving average is $10.97.

The Weir Group Increases Dividend

The business also recently announced a dividend, which will be paid on Thursday, June 8th. Shareholders of record on Friday, April 21st will be paid a $0.0961 dividend. This represents a yield of 1.3%. This is a boost from The Weir Group’s previous dividend of $0.07. The ex-dividend date of this dividend is Thursday, April 20th.

Wall Street Analysts Forecast Growth

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A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of The Weir Group from GBX 1,850 ($23.01) to GBX 2,040 ($25.37) in a research report on Thursday, March 2nd. Morgan Stanley raised their price objective on The Weir Group from GBX 1,580 ($19.65) to GBX 1,760 ($21.89) in a research note on Tuesday, March 7th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on The Weir Group from GBX 1,900 ($23.63) to GBX 2,134 ($26.54) in a research note on Monday, March 6th.

The Weir Group Company Profile

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The Weir Group Plc engages in the provision of engineering solutions. It operates through the following segments: Minerals, Oil and Gas, and ESCO. The Minerals segment offers slurry handling equipment and associated aftermarket support for abrasive high wear applications used in the mining and oil sands markets.