Westport Fuel Systems (WPRT) Rating Reiterated by HC Wainwright

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a report released on Thursday. They presently have a $6.00 price objective on the auto parts company’s stock. HC Wainwright’s price objective suggests a potential upside of 112.77% from the stock’s previous close.

A number of other analysts have also recently weighed in on WPRT. Zacks Investment Research cut shares of Westport Fuel Systems from a “buy” rating to a “hold” rating in a report on Monday, July 16th. BidaskClub cut shares of Westport Fuel Systems from a “sell” rating to a “strong sell” rating in a report on Thursday, July 26th. Finally, Lake Street Capital raised their price target on shares of Westport Fuel Systems from $5.00 to $6.00 and gave the company a “buy” rating in a report on Thursday, August 30th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $4.42.

NASDAQ:WPRT opened at $2.82 on Thursday. Westport Fuel Systems has a fifty-two week low of $2.10 and a fifty-two week high of $4.33. The stock has a market capitalization of $395.19 million, a PE ratio of -6.61 and a beta of 2.27. The company has a current ratio of 1.52, a quick ratio of 1.14 and a debt-to-equity ratio of 0.42.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last released its quarterly earnings results on Thursday, August 9th. The auto parts company reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). Westport Fuel Systems had a negative net margin of 17.94% and a negative return on equity of 40.52%. The business had revenue of $80.49 million for the quarter, compared to analysts’ expectations of $64.50 million. As a group, equities research analysts forecast that Westport Fuel Systems will post -0.24 EPS for the current year.

Several large investors have recently added to or reduced their stakes in WPRT. Manatuck Hill Partners LLC raised its position in shares of Westport Fuel Systems by 143.0% in the 2nd quarter. Manatuck Hill Partners LLC now owns 2,386,362 shares of the auto parts company’s stock valued at $6,037,000 after purchasing an additional 1,404,462 shares during the last quarter. Cortina Asset Management LLC raised its position in shares of Westport Fuel Systems by 20.6% in the 2nd quarter. Cortina Asset Management LLC now owns 1,928,576 shares of the auto parts company’s stock valued at $4,879,000 after purchasing an additional 330,047 shares during the last quarter. Paradigm Capital Management Inc. NY raised its position in shares of Westport Fuel Systems by 229.2% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 657,530 shares of the auto parts company’s stock valued at $1,663,000 after purchasing an additional 457,780 shares during the last quarter. Ardsley Advisory Partners raised its position in shares of Westport Fuel Systems by 42.9% in the 2nd quarter. Ardsley Advisory Partners now owns 500,000 shares of the auto parts company’s stock valued at $1,265,000 after purchasing an additional 150,000 shares during the last quarter. Finally, Trellus Management Company LLC raised its position in shares of Westport Fuel Systems by 18.8% in the 2nd quarter. Trellus Management Company LLC now owns 190,000 shares of the auto parts company’s stock valued at $481,000 after purchasing an additional 30,000 shares during the last quarter. Institutional investors and hedge funds own 22.51% of the company’s stock.

Westport Fuel Systems Company Profile

Westport Fuel Systems Inc engineers, manufactures, and supplies alternative fuel systems and components for the transportation and industrial markets worldwide. It operates through Transportation and Cummins Westport Inc Joint Venture segments. The company designs, manufactures, and sells compressed natural gas (CNG) and liquid petroleum gas (LPG) components and systems, such as pressure regulators, injectors, electronic control units, valves, and filters, as well as bi-fuel, mono-fuel, and dual-fuel LPG and CNG conversion kits for passenger cars, light-duty trucks, and medium-duty vehicles, including original engine manufacture (OEM), delayed OEM, and aftermarket segments.

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Analyst Recommendations for Westport Fuel Systems (NASDAQ:WPRT)

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