Westport Fuel Systems (NASDAQ:WPRT) Announces Quarterly Earnings Results

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) announced its earnings results on Tuesday. The auto parts company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.18), Zacks reports. Westport Fuel Systems had a negative net margin of 68.55% and a negative return on equity of 37.38%.

Westport Fuel Systems Stock Up 2.7%

Shares of WPRT traded up $0.05 during mid-day trading on Tuesday, hitting $1.93. The stock had a trading volume of 42,580 shares, compared to its average volume of 456,680. The company has a market cap of $36.67 million, a PE ratio of -0.51 and a beta of 2.13. The company’s fifty day simple moving average is $1.97 and its two-hundred day simple moving average is $1.98. Westport Fuel Systems has a fifty-two week low of $1.54 and a fifty-two week high of $3.49.

Institutional Investors Weigh In On Westport Fuel Systems

A hedge fund recently bought a new position in Westport Fuel Systems stock. XTX Topco Ltd acquired a new position in Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 19,468 shares of the auto parts company’s stock, valued at approximately $31,000. XTX Topco Ltd owned 0.11% of Westport Fuel Systems at the end of the most recent reporting period. Hedge funds and other institutional investors own 21.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WPRT. Royal Bank Of Canada dropped their price target on shares of Westport Fuel Systems from $2.00 to $1.75 and set a “sector perform” rating for the company in a research note on Monday, April 27th. Weiss Ratings reissued a “sell (e+)” rating on shares of Westport Fuel Systems in a report on Friday, July 17th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $4.38.

Westport Fuel Systems Company Profile

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.