Westport Fuel Systems (NASDAQ:WPRT) Price Target Cut to $1.50 by Analysts at Royal Bank of Canada

Westport Fuel Systems (NASDAQ:WPRT – Get Rating) (TSE:WPRT) had its target price cut by Royal Bank of Canada from $2.50 to $1.50 in a research note released on Wednesday morning, Benzinga reports. They currently have a sector perform rating on the auto parts company’s stock.

Westport Fuel Systems Trading Down 3.9 %

Shares of WPRT stock opened at $0.84 on Wednesday. The company’s 50-day moving average price is $1.08 and its 200-day moving average price is $0.96. The company has a current ratio of 2.05, a quick ratio of 1.61 and a debt-to-equity ratio of 0.16. The stock has a market cap of $143.89 million, a price-to-earnings ratio of -4.20 and a beta of 2.49. Westport Fuel Systems has a twelve month low of $0.75 and a twelve month high of $1.77.

Institutional Trading of Westport Fuel Systems

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Advisor Group Holdings Inc. increased its stake in Westport Fuel Systems by 70.8% during the first quarter. Advisor Group Holdings Inc. now owns 21,226 shares of the auto parts company’s stock worth $34,000 after purchasing an additional 8,800 shares during the period. Cibc World Market Inc. purchased a new stake in shares of Westport Fuel Systems during the first quarter worth approximately $51,000. Captrust Financial Advisors increased its stake in shares of Westport Fuel Systems by 107.6% during the third quarter. Captrust Financial Advisors now owns 34,876 shares of the auto parts company’s stock worth $30,000 after buying an additional 18,076 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Westport Fuel Systems by 251.1% during the first quarter. Envestnet Asset Management Inc. now owns 35,111 shares of the auto parts company’s stock worth $55,000 after buying an additional 25,111 shares during the period. Finally, Toronto Dominion Bank increased its stake in shares of Westport Fuel Systems by 159.5% during the second quarter. Toronto Dominion Bank now owns 46,132 shares of the auto parts company’s stock worth $46,000 after buying an additional 28,357 shares during the period. 13.70% of the stock is currently owned by hedge funds and other institutional investors.

Westport Fuel Systems Company Profile

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Westport Fuel Systems, Inc engages in the business of engineering, manufacturing, and supplying alternative fuel systems and components for transportation applications. It operates through the following segments: Original Equipment Manufacturers (OEM), Independent Aftermarket (IAM), and Corporate. The OEM segment includes designing, manufacturing, and selling alternative fuel systems, components, and electronics including the HPDI 2.0 fuel systems product and engineering services.