Westport Fuel Systems (NASDAQ:WPRT) Stock Crosses Above Two Hundred Day Moving Average – Should You Sell?

Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.97 and traded as high as $2.41. Westport Fuel Systems shares last traded at $2.26, with a volume of 189,272 shares traded.

Wall Street Analyst Weigh In

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

Westport Fuel Systems Stock Down 3.0%

The stock has a fifty day moving average of $2.02 and a two-hundred day moving average of $1.97. The stock has a market cap of $39.32 million, a price-to-earnings ratio of -0.60 and a beta of 2.12.

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 (EPS) 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 analysts’ expectations of $1.13 million. On average, research analysts expect that Westport Fuel Systems Inc. will post -1.44 EPS for the current year.

Hedge Funds Weigh In On Westport Fuel Systems

A number of large investors have recently made changes to their positions in the stock. Grace & White Inc. NY lifted its stake in shares of Westport Fuel Systems by 11.0% in 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 during the period. Royce & Associates LP acquired a new position in Westport Fuel Systems during the fourth quarter worth about $357,000. Goldman Sachs Group Inc. grew 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 worth $61,000 after buying an additional 7,401 shares during the period. Finally, XTX Topco Ltd purchased a new position in Westport Fuel Systems in the fourth quarter valued at about $31,000. Hedge funds and other institutional investors 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.