Westport Fuel Systems (NASDAQ:WPRT) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-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.

Analysts Set New Price Targets

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

Westport Fuel Systems Price Performance

The firm has a market capitalization of $35.67 million, a P/E ratio of -0.55 and a beta of 2.10. The firm’s 50 day moving average is $2.02 and its two-hundred day moving average is $1.98.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last posted its quarterly earnings results 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). The firm had revenue of $1.16 million for the quarter, compared to the consensus estimate of $1.13 million. Westport Fuel Systems had a negative return on equity of 37.38% and a negative net margin of 68.55%. Analysts anticipate that Westport Fuel Systems Inc. will post -1.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Westport Fuel Systems

Institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. raised its stake in 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 buying an additional 7,401 shares during the period. XTX Topco Ltd acquired a new stake in shares of Westport Fuel Systems in the fourth quarter valued at approximately $31,000. Royce & Associates LP bought a new position in shares of Westport Fuel Systems during the 4th quarter worth approximately $357,000. Finally, Grace & White Inc. NY increased its holdings in shares of Westport Fuel Systems by 11.0% during 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 acquiring an additional 114,787 shares during the last quarter. Institutional investors and hedge funds 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.