Westport Fuel Systems (NASDAQ:WPRT) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.94 and traded as high as $2.25. Westport Fuel Systems shares last traded at $2.04, with a volume of 2,044,012 shares.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on WPRT shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Westport Fuel Systems in a research report on Monday, April 20th. Zacks Research lowered Westport Fuel Systems from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Finally, Royal Bank Of Canada cut their price objective on Westport Fuel Systems from $2.00 to $1.75 and set a “sector perform” rating on the stock in a research note 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $4.38.

Westport Fuel Systems Price Performance

The business’s fifty day simple moving average is $2.00 and its 200 day simple moving average is $1.95. The stock has a market cap of $37.58 million, a price-to-earnings ratio of -0.58 and a beta of 2.12.

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

Institutional Investors Weigh In On Westport Fuel Systems

Several institutional investors and hedge funds have recently bought and sold shares of WPRT. XTX Topco Ltd acquired a new stake in shares of Westport Fuel Systems in the 4th quarter worth about $31,000. Goldman Sachs Group Inc. boosted its stake in Westport Fuel Systems by 23.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 38,753 shares of the auto parts company’s stock valued at $61,000 after purchasing an additional 7,401 shares during the period. Royce & Associates LP bought a new position in Westport Fuel Systems in the 4th quarter worth about $357,000. Finally, Grace & White Inc. NY grew its position in Westport Fuel Systems by 11.0% in the 4th quarter. Grace & White Inc. NY now owns 1,160,087 shares of the auto parts company’s stock worth $1,821,000 after purchasing an additional 114,787 shares during the last quarter. Institutional investors and hedge funds own 21.30% of the company’s stock.

Westport Fuel Systems Company Profile

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.