Westport Fuel Systems (WPRT) Trading 5.7% Higher

Westport Fuel Systems Inc (NASDAQ:WPRT) (TSE:WPRT)’s share price traded up 5.7% during mid-day trading on Thursday . The company traded as high as $2.83 and last traded at $2.79. 693,440 shares changed hands during trading, an increase of 6% from the average session volume of 652,932 shares. The stock had previously closed at $2.64.

A number of equities analysts have issued reports on the company. HC Wainwright assumed coverage on Westport Fuel Systems in a research note on Thursday, September 20th. They set a “buy” rating and a $6.00 price target for the company. BidaskClub lowered Westport Fuel Systems from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 26th. Zacks Investment Research raised Westport Fuel Systems from a “sell” rating to a “hold” rating in a research note on Thursday, September 27th. Finally, Lake Street Capital increased their price target on Westport Fuel Systems from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Thursday, August 30th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $4.42.

The company has a debt-to-equity ratio of 0.42, a current ratio of 1.52 and a quick ratio of 1.14.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last released its quarterly earnings data on Thursday, November 8th. The auto parts company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.04). The company had revenue of $65.50 million for the quarter, compared to the consensus estimate of $59.52 million. Westport Fuel Systems had a negative return on equity of 40.52% and a negative net margin of 17.94%. The business’s revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.15) earnings per share. Research analysts predict that Westport Fuel Systems Inc will post -0.24 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in WPRT. Trellus Management Company LLC boosted its stake in shares of Westport Fuel Systems by 18.8% during the 2nd quarter. Trellus Management Company LLC now owns 190,000 shares of the auto parts company’s stock worth $481,000 after acquiring an additional 30,000 shares in the last quarter. Granite Investment Partners LLC bought a new stake in shares of Westport Fuel Systems during the 2nd quarter worth $342,000. Paradigm Capital Management Inc. NY boosted its stake in shares of Westport Fuel Systems by 229.2% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 657,530 shares of the auto parts company’s stock worth $1,663,000 after acquiring an additional 457,780 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Westport Fuel Systems during the 2nd quarter worth $151,000. Finally, Cortina Asset Management LLC boosted its stake in shares of Westport Fuel Systems by 20.6% during the 2nd quarter. Cortina Asset Management LLC now owns 1,928,576 shares of the auto parts company’s stock worth $4,879,000 after acquiring an additional 330,047 shares in the last quarter. 23.46% of the stock is owned by institutional investors and hedge funds.

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Westport Fuel Systems Company Profile (NASDAQ:WPRT)

Westport Fuel Systems Inc engineers, manufactures, and supplies alternative fuel systems and components for the transportation and industrial markets worldwide. It operates through Transportation and Cummins Westport Inc Joint Venture segments. The company designs, manufactures, and sells compressed natural gas (CNG) and liquid petroleum gas (LPG) components and systems, such as pressure regulators, injectors, electronic control units, valves, and filters, as well as bi-fuel, mono-fuel, and dual-fuel LPG and CNG conversion kits for passenger cars, light-duty trucks, and medium-duty vehicles, including original engine manufacture (OEM), delayed OEM, and aftermarket segments.

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