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

Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.98 and traded as high as $2.06. Westport Fuel Systems shares last traded at $2.05, with a volume of 88,559 shares traded.

Analysts Set New Price Targets

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

Westport Fuel Systems Price Performance

The firm has a market capitalization of $35.67 million, a price-to-earnings ratio of -0.55 and a beta of 2.10. The business has a 50 day moving average of $2.02 and a 200 day moving average of $1.98.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last issued its quarterly earnings data on Thursday, April 23rd. The auto parts company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.05). Westport Fuel Systems had a negative net margin of 68.55% and a negative return on equity of 37.38%. The firm had revenue of $1.16 million for the quarter, compared to analyst estimates of $1.13 million. As a group, equities analysts predict that Westport Fuel Systems Inc. will post -1.44 EPS for the current year.

Hedge Funds Weigh In On Westport Fuel Systems

Institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd acquired a new stake in shares of Westport Fuel Systems during the fourth quarter worth $31,000. Goldman Sachs Group Inc. raised its stake in shares of Westport Fuel Systems by 23.6% in the 4th 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 during the period. Royce & Associates LP acquired a new position in shares of Westport Fuel Systems during the fourth quarter worth about $357,000. Finally, Grace & White Inc. NY grew its holdings in shares of 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 worth $1,821,000 after buying an additional 114,787 shares in the last quarter. 21.30% of the stock is currently owned by institutional investors and hedge funds.

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.