Westport Fuel Systems (NASDAQ:WPRT) Announces Quarterly Earnings Results

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) issued its quarterly earnings data on Thursday. The auto parts company reported ($0.52) earnings per share (EPS) for the quarter, Zacks reports. Westport Fuel Systems had a negative net margin of 25.63% and a negative return on equity of 24.16%.

Westport Fuel Systems Stock Down 2.3%

Shares of NASDAQ:WPRT traded down $0.05 during midday trading on Thursday, reaching $2.10. 82,299 shares of the company were exchanged, compared to its average volume of 53,817. The firm has a market cap of $36.50 million, a PE ratio of -0.60 and a beta of 2.14. Westport Fuel Systems has a fifty-two week low of $1.54 and a fifty-two week high of $4.15. The stock has a fifty day simple moving average of $1.99 and a two-hundred day simple moving average of $1.93.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Westport Fuel Systems in a research report on Monday. Zacks Research cut shares of Westport Fuel Systems from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $4.50.

Institutional Trading of Westport Fuel Systems

A hedge fund recently bought a new stake in Westport Fuel Systems stock. XTX Topco Ltd acquired a new position in shares of Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 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 reporting period. Institutional investors 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.