Westport Fuel Systems (NASDAQ:WPRT) Shares Pass Above 200-Day Moving Average – Should You Sell?

Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.91 and traded as high as $2.00. Westport Fuel Systems shares last traded at $1.97, with a volume of 14,416 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Westport Fuel Systems in a research note on Monday, April 20th. Royal Bank Of Canada dropped their price target on Westport Fuel Systems from $2.00 to $1.75 and set a “sector perform” rating on the stock in a research note on Monday, April 27th. Finally, Zacks Research downgraded Westport Fuel Systems from a “strong-buy” rating to a “hold” rating in a research note 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $4.38.

Westport Fuel Systems Trading Down 0.5%

The stock has a market capitalization of $34.28 million, a PE ratio of -0.53 and a beta of 2.14. The stock has a 50 day moving average price of $1.98 and a 200-day moving average price of $1.91.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last released its quarterly earnings results on Thursday, April 23rd. The auto parts company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.05). Westport Fuel Systems had a negative return on equity of 37.38% and a negative net margin of 68.55%.The business had revenue of $1.16 million during the quarter, compared to the consensus estimate of $1.13 million. Research analysts forecast that Westport Fuel Systems Inc. will post -1.44 earnings per share for the current year.

Hedge Funds Weigh In On Westport Fuel Systems

Several institutional investors and hedge funds have recently bought and sold shares of WPRT. Grace & White Inc. NY lifted its position in Westport Fuel Systems by 11.0% during the fourth quarter. Grace & White Inc. NY now owns 1,160,087 shares of the auto parts company’s stock valued at $1,821,000 after purchasing an additional 114,787 shares in the last quarter. Royce & Associates LP purchased a new position in Westport Fuel Systems during the fourth quarter valued at $357,000. Goldman Sachs Group Inc. lifted its position in Westport Fuel Systems by 23.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 38,753 shares of the auto parts company’s stock valued at $61,000 after purchasing an additional 7,401 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in Westport Fuel Systems during the fourth quarter valued at $31,000. 21.30% of the stock is currently owned by hedge funds and other institutional investors.

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.