Westport Fuel Systems Inc (NASDAQ:WPRT) (TSE:WPT)’s share price gapped up prior to trading on Friday after Lake Street Capital raised their price target on the stock from $3.00 to $5.00. The stock had previously closed at $3.72, but opened at $3.59. Lake Street Capital currently has a hold rating on the stock. Westport Fuel Systems shares last traded at $3.58, with a volume of 1,370,723 shares.

Other equities analysts have also recently issued reports about the company. Oppenheimer Holdings, Inc. began coverage on Westport Fuel Systems in a report on Wednesday, August 16th. They issued an “outperform” rating and a $3.00 target price on the stock. BidaskClub upgraded Westport Fuel Systems from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. CIBC initiated coverage on Westport Fuel Systems in a research note on Thursday, August 17th. They issued an “outperform” rating and a $3.00 price target for the company. Cowen and Company set a $2.00 price target on Westport Fuel Systems and gave the stock a “hold” rating in a research note on Monday, August 14th. Finally, ValuEngine upgraded Westport Fuel Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $3.02.

Hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN increased its stake in Westport Fuel Systems by 496.2% in the 1st quarter. Wells Fargo & Company MN now owns 108,054 shares of the auto parts company’s stock worth $103,000 after buying an additional 89,931 shares in the last quarter. KCG Holdings Inc. increased its stake in Westport Fuel Systems by 313.2% in the 1st quarter. KCG Holdings Inc. now owns 127,134 shares of the auto parts company’s stock worth $122,000 after buying an additional 96,365 shares in the last quarter. Northern Trust Corp increased its stake in Westport Fuel Systems by 0.5% in the 2nd quarter. Northern Trust Corp now owns 68,774 shares of the auto parts company’s stock worth $161,000 after buying an additional 346 shares in the last quarter. Royal Bank of Canada increased its stake in Westport Fuel Systems by 0.5% in the 2nd quarter. Royal Bank of Canada now owns 72,049 shares of the auto parts company’s stock worth $169,000 after buying an additional 375 shares in the last quarter. Finally, US Bancorp DE increased its stake in Westport Fuel Systems by 62.7% in the 1st quarter. US Bancorp DE now owns 250,200 shares of the auto parts company’s stock worth $240,000 after buying an additional 96,401 shares in the last quarter. Institutional investors and hedge funds own 9.35% of the company’s stock.

The firm’s market capitalization is $465.53 million. The stock has a 50 day moving average price of $2.77 and a 200 day moving average price of $1.88.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPT) last released its earnings results on Monday, August 14th. The auto parts company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.03. The business had revenue of $62.10 million during the quarter, compared to analysts’ expectations of $58.44 million. Westport Fuel Systems had a negative net margin of 20.37% and a negative return on equity of 65.98%. The company’s quarterly revenue was up 66.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.05 earnings per share. Equities research analysts expect that Westport Fuel Systems Inc will post ($0.49) earnings per share for the current fiscal year.

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About Westport Fuel Systems

Westport Fuel Systems Inc, formerly Westport Innovations Inc, is a Canada-based provider of low-emission engine and fuel system technologies utilizing gaseous fuels. It operates through the Westport Operations segment. The Westport Operations segment designs, manufactures and sells compressed natural gas, liquefied natural gas, and liquefied petroleum gas components and systems to original equipment manufacturers and to aftermarket customers.

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