Royal Bank Of Canada Cuts Westport Fuel Systems (NASDAQ:WPRT) Price Target to $1.00

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) had its price target trimmed by Royal Bank Of Canada from $1.75 to $1.00 in a research note issued to investors on Thursday, Marketbeat Ratings reports. The firm currently has a sector perform rating on the auto parts company’s stock.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Westport Fuel Systems in a research note on Friday, July 17th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $1.00.

Westport Fuel Systems Stock Up 2.3%

NASDAQ WPRT opened at $1.76 on Thursday. Westport Fuel Systems has a 52 week low of $1.54 and a 52 week high of $2.99. The business’s fifty day simple moving average is $1.95 and its 200-day simple moving average is $1.98. The firm has a market cap of $33.43 million, a PE ratio of -0.73 and a beta of 2.13.

Institutional Investors Weigh In On Westport Fuel Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WPRT. XTX Topco Ltd purchased a new position in shares of Westport Fuel Systems during the 4th quarter worth $31,000. Goldman Sachs Group Inc. increased its position in shares of 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 purchasing an additional 7,401 shares during the last quarter. Royce & Associates LP purchased a new stake in Westport Fuel Systems in the 4th quarter valued at about $357,000. Finally, Grace & White Inc. NY raised its holdings 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 valued at $1,821,000 after buying an additional 114,787 shares during the period. Hedge funds and other institutional investors 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.