Westport Fuel Systems (WPRT) Sees Large Volume Increase

Westport Fuel Systems Inc (NASDAQ:WPRT) (TSE:WPRT) saw an uptick in trading volume on Monday . 4,137,000 shares traded hands during mid-day trading, an increase of 348% from the previous session’s volume of 924,309 shares.The stock last traded at $3.33 and had previously closed at $2.93.

Several research firms have weighed in on WPRT. Craig Hallum set a $5.00 target price on shares of Westport Fuel Systems and gave the company a “buy” rating in a report on Friday. ValuEngine downgraded shares of Westport Fuel Systems from a “sell” rating to a “strong sell” rating in a report on Friday, December 1st. Zacks Investment Research downgraded shares of Westport Fuel Systems from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. Oppenheimer raised their target price on shares of Westport Fuel Systems from $3.00 to $3.50 and gave the company an “outperform” rating in a report on Wednesday, November 15th. Finally, Lake Street Capital restated a “buy” rating and set a $5.00 target price on shares of Westport Fuel Systems in a report on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. Westport Fuel Systems presently has a consensus rating of “Buy” and a consensus target price of $3.58.

The stock has a market cap of $433.90, a P/E ratio of -2.82 and a beta of 2.15. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.62 and a quick ratio of 1.13.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last released its quarterly earnings results on Tuesday, November 14th. The auto parts company reported ($0.12) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.03. Westport Fuel Systems had a negative net margin of 14.85% and a negative return on equity of 64.05%. The company had revenue of $60.80 million for the quarter, compared to analysts’ expectations of $51.91 million. During the same period last year, the company earned ($0.30) EPS. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. equities research analysts forecast that Westport Fuel Systems Inc will post -0.49 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Royce & Associates LP boosted its position in shares of Westport Fuel Systems by 1.4% in the second quarter. Royce & Associates LP now owns 5,464,983 shares of the auto parts company’s stock worth $12,843,000 after acquiring an additional 73,000 shares during the last quarter. Paradigm Capital Management Inc. NY acquired a new stake in shares of Westport Fuel Systems in the second quarter worth approximately $1,176,000. Northern Trust Corp raised its holdings in Westport Fuel Systems by 0.5% in the second quarter. Northern Trust Corp now owns 68,774 shares of the auto parts company’s stock valued at $161,000 after buying an additional 346 shares during the period. Royal Bank of Canada raised its holdings in Westport Fuel Systems by 0.5% in the second quarter. Royal Bank of Canada now owns 72,049 shares of the auto parts company’s stock valued at $169,000 after buying an additional 375 shares during the period. Finally, Hood River Capital Management LLC purchased a new position in Westport Fuel Systems in the third quarter valued at approximately $7,936,000. 15.94% of the stock is currently owned by institutional investors.

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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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