Westport Fuel Systems (NASDAQ:WPRT) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.98 and traded as high as $2.06. Westport Fuel Systems shares last traded at $2.05, with a volume of 88,559 shares trading hands.

Analyst Ratings Changes

WPRT has been the subject of a number of recent analyst reports. Zacks Research downgraded Westport Fuel Systems from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Westport Fuel Systems in a research note on Monday, April 20th. Finally, Royal Bank Of Canada lowered their price target on Westport Fuel Systems from $2.00 to $1.75 and set a “sector perform” rating for the company in a report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $4.38.

Westport Fuel Systems Trading Down 1.4%

The stock has a market capitalization of $36.19 million, a price-to-earnings ratio of -0.55 and a beta of 2.10. The company’s 50 day moving average is $2.02 and its 200 day moving average is $1.99.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last released its quarterly earnings data on Thursday, April 23rd. The auto parts company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.05). Westport Fuel Systems had a negative net margin of 68.55% and a negative return on equity of 37.38%. The company had revenue of $1.16 million during the quarter, compared to analyst estimates of $1.13 million. Analysts anticipate that Westport Fuel Systems Inc. will post -1.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in WPRT. XTX Topco Ltd acquired a new position in Westport Fuel Systems during the fourth quarter worth approximately $31,000. Goldman Sachs Group Inc. boosted its holdings in shares of Westport Fuel Systems by 23.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 38,753 shares of the auto parts company’s stock valued at $61,000 after acquiring an additional 7,401 shares during the period. Royce & Associates LP acquired a new stake in shares of Westport Fuel Systems in the fourth quarter valued at approximately $357,000. Finally, Grace & White Inc. NY grew its position in shares of Westport Fuel Systems by 11.0% during the fourth quarter. Grace & White Inc. NY now owns 1,160,087 shares of the auto parts company’s stock worth $1,821,000 after acquiring an additional 114,787 shares during the last quarter. Hedge funds and other institutional investors own 21.30% of the company’s stock.

About Westport Fuel Systems

Westport Fuel Systems Inc is a Canadian-based company that designs, engineers and manufactures alternative fuel systems and components for transportation and industrial applications. Specializing in natural gas, propane and hydrogen technologies, the company develops complete fuel delivery systems, high-pressure direct injection solutions and fuel storage modules tailored for light-, medium- and heavy-duty vehicles. Its platforms are designed to reduce emissions and lower operating costs for original equipment manufacturers (OEMs) and fleet operators worldwide.

The company’s product portfolio includes compressed natural gas (CNG) and liquefied natural gas (LNG) fuel systems, electronic controls, injectors, pressure regulators and specialized fuel tanks.