Westport Fuel Systems (NASDAQ:WPRT) Posts Earnings Results, Beats Estimates By $0.11 EPS

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) posted its quarterly earnings data on Thursday. The auto parts company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.11, Zacks reports. Westport Fuel Systems had a negative net margin of 37.73% and a negative return on equity of 27.03%. The business had revenue of $2.29 million for the quarter, compared to analyst estimates of $2.20 million.

Westport Fuel Systems Stock Up 0.2%

Westport Fuel Systems stock traded up $0.00 during mid-day trading on Friday, hitting $2.00. The company’s stock had a trading volume of 9,767 shares, compared to its average volume of 51,979. The stock has a market capitalization of $34.77 million, a P/E ratio of -0.56 and a beta of 2.14. Westport Fuel Systems has a twelve month low of $1.54 and a twelve month high of $4.15. The stock’s fifty day moving average price is $1.98 and its two-hundred day moving average price is $1.91.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Westport Fuel Systems in a research note on Monday, April 20th. Zacks Research lowered shares of Westport Fuel Systems from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Finally, Royal Bank Of Canada decreased their price target 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. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Westport Fuel Systems currently has an average rating of “Hold” and a consensus price target of $4.38.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Westport Fuel Systems stock. Goldman Sachs Group Inc. increased its position in Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) by 23.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 38,753 shares of the auto parts company’s stock after purchasing an additional 7,401 shares during the period. Goldman Sachs Group Inc. owned about 0.22% of Westport Fuel Systems worth $61,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 21.30% of the company’s stock.

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.