Westport Fuel Systems (NASDAQ:WPRT) Earns “Buy” Rating from HC Wainwright

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They presently have a $22.00 price target on the auto parts company’s stock. HC Wainwright’s price target indicates a potential upside of 435.28% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $8.00 price target on shares of Westport Fuel Systems in a research note on Thursday. StockNews.com upgraded Westport Fuel Systems from a “sell” rating to a “hold” rating in a report on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $14.13.

Westport Fuel Systems Stock Up 1.5 %

NASDAQ:WPRT traded up $0.06 during trading hours on Friday, hitting $4.11. The company’s stock had a trading volume of 55,473 shares, compared to its average volume of 44,800. The company has a current ratio of 1.60, a quick ratio of 1.10 and a debt-to-equity ratio of 0.16. Westport Fuel Systems has a 52-week low of $3.91 and a 52-week high of $7.86. The stock has a market capitalization of $70.94 million, a P/E ratio of -2.76 and a beta of 2.84. The stock has a fifty day moving average of $4.47 and a 200-day moving average of $5.37.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last announced its quarterly earnings data on Tuesday, November 12th. The auto parts company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.19. The firm had revenue of $66.25 million during the quarter, compared to the consensus estimate of $66.88 million. Westport Fuel Systems had a negative net margin of 8.01% and a negative return on equity of 25.57%. During the same quarter last year, the firm earned ($0.68) earnings per share. On average, equities analysts forecast that Westport Fuel Systems will post -1.89 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Grace & White Inc. NY raised its stake in Westport Fuel Systems by 5.2% in the 2nd quarter. Grace & White Inc. NY now owns 625,322 shares of the auto parts company’s stock worth $3,483,000 after purchasing an additional 30,740 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Westport Fuel Systems during the 2nd quarter worth $67,000. Finally, US Bancorp DE grew its holdings in shares of Westport Fuel Systems by 170.7% during the 3rd quarter. US Bancorp DE now owns 188,349 shares of the auto parts company’s stock valued at $865,000 after purchasing an additional 118,780 shares during the last quarter. 21.30% of the stock is owned by institutional investors and hedge funds.

About Westport Fuel Systems

Westport Fuel Systems Inc engages in the engineering, manufacturing, and supplying alternative fuel systems and components for use in transportation applications in Europe, Asia, North America, South America, and internationally. The company operates through two segments, Original Equipment Manufacturers and Independent Aftermarket.