Westport Fuel Systems (NASDAQ:WPRT) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.92 and traded as high as $1.99. Westport Fuel Systems shares last traded at $1.95, with a volume of 31,439 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on WPRT shares. Weiss Ratings restated a “sell (e+)” rating on shares of Westport Fuel Systems in a report on Monday, April 20th. Zacks Research downgraded shares of Westport Fuel Systems from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Finally, Royal Bank Of Canada dropped their price objective on shares of 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. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.38.

Westport Fuel Systems Stock Performance

The stock has a market cap of $33.93 million, a price-to-earnings ratio of -0.52 and a beta of 2.12. The company’s 50 day simple moving average is $1.98 and its two-hundred day simple moving average is $1.92.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last released its quarterly earnings data 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). The company had revenue of $1.16 million during the quarter, compared to analyst estimates of $1.13 million. Westport Fuel Systems had a negative net margin of 68.55% and a negative return on equity of 37.38%. On average, equities research analysts predict that Westport Fuel Systems Inc. will post -1.44 earnings per share for the current fiscal year.

Institutional Trading of Westport Fuel Systems

Several large investors have recently modified their holdings of WPRT. Royce & Associates LP bought a new stake in shares of Westport Fuel Systems during the 4th quarter worth $357,000. Grace & White Inc. NY boosted its holdings 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 buying an additional 114,787 shares during the period. XTX Topco Ltd bought a new stake in shares of Westport Fuel Systems during the 4th quarter worth $31,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of 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 period. 21.30% of the stock is owned by institutional investors.

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.