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

Shares of Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.07 and traded as high as $2.18. Westport Fuel Systems shares last traded at $2.07, with a volume of 72,983 shares traded.

Analyst Ratings Changes

Several research firms have recently issued reports on WPRT. Zacks Research upgraded shares of Westport Fuel Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. Royal Bank Of Canada cut their price target on Westport Fuel Systems from $3.00 to $2.00 and set a “sector perform” rating for the company in a report on Wednesday, November 12th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Westport Fuel Systems in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $6.60.

Westport Fuel Systems Stock Performance

The company’s 50 day moving average price is $1.97 and its 200 day moving average price is $2.07. The company has a market cap of $35.98 million, a price-to-earnings ratio of -0.59 and a beta of 2.12.

Institutional Investors Weigh In On Westport Fuel Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of WPRT. Grace & White Inc. NY boosted its stake in Westport Fuel Systems by 11.0% in 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 purchasing an additional 114,787 shares in the last quarter. Royce & Associates LP bought a new position in shares of Westport Fuel Systems in the fourth quarter valued at about $357,000. Goldman Sachs Group Inc. lifted its position 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 worth $61,000 after buying an additional 7,401 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in Westport Fuel Systems during the 4th quarter worth about $31,000. 21.30% of the stock is owned by institutional investors and hedge funds.

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.