Westport Fuel Systems Inc (NASDAQ:WPRT) (TSE:WPRT)’s share price dropped 6.5% on Wednesday . The stock traded as low as $3.30 and last traded at $3.33. Approximately 1,963,649 shares were traded during trading, an increase of 192% from the average daily volume of 673,506 shares. The stock had previously closed at $3.56.
WPRT has been the subject of several analyst reports. BidaskClub upgraded Westport Fuel Systems from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 14th. Zacks Investment Research downgraded Westport Fuel Systems from a “buy” rating to a “hold” rating in a report on Monday, July 16th. Finally, Lake Street Capital raised their price target on Westport Fuel Systems from $5.00 to $6.00 and gave the company a “buy” rating in a report on Thursday, August 30th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $4.10.
The firm has a market cap of $479.50 million, a price-to-earnings ratio of -7.59 and a beta of 2.16. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.52 and a quick ratio of 1.14.
Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last released its quarterly earnings data on Thursday, August 9th. The auto parts company reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). Westport Fuel Systems had a negative return on equity of 40.52% and a negative net margin of 17.94%. The company had revenue of $80.49 million during the quarter, compared to the consensus estimate of $64.50 million. equities analysts forecast that Westport Fuel Systems Inc will post -0.23 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ardsley Advisory Partners increased its holdings in Westport Fuel Systems by 42.9% in the 2nd quarter. Ardsley Advisory Partners now owns 500,000 shares of the auto parts company’s stock worth $1,265,000 after buying an additional 150,000 shares in the last quarter. Manatuck Hill Partners LLC increased its holdings in Westport Fuel Systems by 143.0% in the 2nd quarter. Manatuck Hill Partners LLC now owns 2,386,362 shares of the auto parts company’s stock worth $6,037,000 after buying an additional 1,404,462 shares in the last quarter. Cortina Asset Management LLC increased its holdings in Westport Fuel Systems by 20.6% in the 2nd quarter. Cortina Asset Management LLC now owns 1,928,576 shares of the auto parts company’s stock worth $4,879,000 after buying an additional 330,047 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in Westport Fuel Systems in the 2nd quarter worth about $151,000. Finally, Paradigm Capital Management Inc. NY increased its holdings in Westport Fuel Systems by 229.2% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 657,530 shares of the auto parts company’s stock worth $1,663,000 after buying an additional 457,780 shares in the last quarter. Institutional investors own 22.52% of the company’s stock.
About Westport Fuel Systems (NASDAQ:WPRT)
Westport Fuel Systems Inc engineers, manufactures, and supplies alternative fuel systems and components for the transportation and industrial markets worldwide. It operates through Transportation and Cummins Westport Inc Joint Venture segments. The company designs, manufactures, and sells compressed natural gas (CNG) and liquid petroleum gas (LPG) components and systems, such as pressure regulators, injectors, electronic control units, valves, and filters, as well as bi-fuel, mono-fuel, and dual-fuel LPG and CNG conversion kits for passenger cars, light-duty trucks, and medium-duty vehicles, including original engine manufacture (OEM), delayed OEM, and aftermarket segments.
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