Westport Fuel Systems (NASDAQ:WPRT) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.11 and traded as high as $2.14. Westport Fuel Systems shares last traded at $2.05, with a volume of 22,722 shares traded.

Analyst Ratings Changes

WPRT has been the topic of several research reports. Zacks Research raised Westport Fuel Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Westport Fuel Systems in a research note on Wednesday, January 21st. Finally, Royal Bank Of Canada reduced their price target on shares of Westport Fuel Systems from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Westport Fuel Systems has a consensus rating of “Moderate Buy” and an average price target of $6.60.

Westport Fuel Systems Price Performance

The stock’s 50 day moving average is $1.93 and its two-hundred day moving average is $2.11. The stock has a market capitalization of $35.63 million, a PE ratio of -0.59 and a beta of 2.18.

Hedge Funds Weigh In On Westport Fuel Systems

A number of institutional investors and hedge funds have recently modified their holdings of WPRT. XTX Topco Ltd acquired a new position in shares of Westport Fuel Systems during the fourth quarter worth $31,000. Goldman Sachs Group Inc. lifted its holdings in Westport Fuel Systems by 23.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 38,753 shares of the auto parts company’s stock worth $61,000 after buying an additional 7,401 shares during the last quarter. Royce & Associates LP purchased a new stake in Westport Fuel Systems during the 4th quarter worth about $357,000. Finally, Grace & White Inc. NY boosted its position 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 in the last quarter. Institutional investors and hedge funds own 21.30% of the company’s stock.

Westport Fuel Systems Company Profile

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.