Westport Fuel Systems (NASDAQ:WPRT) Issues Earnings Results

Westport Fuel Systems (NASDAQ:WPRT – Get Free Report) (TSE:WPRT) released its quarterly earnings results on Thursday. The auto parts company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.11, Zacks reports. Westport Fuel Systems had a negative return on equity of 27.03% and a negative net margin of 37.73%.

Westport Fuel Systems Price Performance

Shares of NASDAQ WPRT traded up $0.03 during midday trading on Thursday, reaching $2.00. The company’s stock had a trading volume of 31,279 shares, compared to its average volume of 52,445. Westport Fuel Systems has a 12-month low of $1.54 and a 12-month high of $4.15. The firm has a 50 day moving average price of $1.98 and a 200-day moving average price of $1.91. The stock has a market capitalization of $34.71 million, a P/E ratio of -0.56 and a beta of 2.14.

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Hedge Funds Weigh In On Westport Fuel Systems

A hedge fund recently bought a new stake in Westport Fuel Systems stock. XTX Topco Ltd purchased a new position in Westport Fuel Systems Inc. (NASDAQ:WPRT – Free Report) (TSE:WPRT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 19,468 shares of the auto parts company’s stock, valued at approximately $31,000. XTX Topco Ltd owned 0.11% of Westport Fuel Systems at the end of the most recent quarter. 21.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Research Report on WPRT

About Westport Fuel Systems

(Get Free Report)

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.

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