Westport Fuel Systems (NASDAQ:WPRT) Shares Cross Above 200-Day Moving Average – Here’s Why

Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.07 and traded as high as $2.18. Westport Fuel Systems shares last traded at $2.07, with a volume of 72,983 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on WPRT shares. Zacks Research raised Westport Fuel Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. Royal Bank Of Canada decreased their price target on shares of Westport Fuel Systems from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 12th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Westport Fuel Systems in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $6.60.

Westport Fuel Systems Price Performance

The stock’s 50 day simple moving average is $1.99 and its two-hundred day simple moving average is $2.06. The firm has a market cap of $34.76 million, a P/E ratio of -0.57 and a beta of 2.12.

Institutional Trading of Westport Fuel Systems

Institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd purchased a new position in shares of Westport Fuel Systems in the fourth quarter worth $31,000. Goldman Sachs Group Inc. raised its position in Westport Fuel Systems by 23.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 38,753 shares of the auto parts company’s stock worth $61,000 after buying an additional 7,401 shares during the last quarter. Royce & Associates LP bought a new position in Westport Fuel Systems during the 4th quarter valued at about $357,000. Finally, Grace & White Inc. NY boosted its holdings in shares of Westport Fuel Systems by 11.0% during the 4th quarter. Grace & White Inc. NY now owns 1,160,087 shares of the auto parts company’s stock valued at $1,821,000 after acquiring an additional 114,787 shares during the last quarter. Institutional investors own 21.30% of the company’s stock.

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.