Westport Fuel Systems (NASDAQ:WPRT) Given a $2.65 Price Target by ATB Cormark Capital Markets Analysts

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) has been assigned a $2.65 target price by equities research analysts at ATB Cormark Capital Markets in a report issued on Monday,BayStreet.CA reports. The firm currently has a “speculative buy” rating on the auto parts company’s stock. ATB Cormark Capital Markets’ price objective suggests a potential upside of 46.01% from the company’s previous close.

Several other equities research analysts also recently issued reports on WPRT. Royal Bank Of Canada decreased their price target on Westport Fuel Systems from $1.75 to $1.00 and set a “sector perform” rating for the company in a report on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Westport Fuel Systems in a report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Westport Fuel Systems has an average rating of “Hold” and a consensus price target of $1.82.

Westport Fuel Systems Trading Down 0.8%

Shares of WPRT traded down $0.01 on Monday, reaching $1.81. The company’s stock had a trading volume of 20,663 shares, compared to its average volume of 437,259. Westport Fuel Systems has a twelve month low of $1.54 and a twelve month high of $2.98. The stock has a market capitalization of $34.48 million, a PE ratio of -0.75 and a beta of 2.13. The firm has a fifty day moving average of $1.95 and a 200-day moving average of $1.97.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last released its quarterly earnings results on Tuesday, August 11th. The auto parts company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.29). Westport Fuel Systems had a negative net margin of 493.15% and a negative return on equity of 51.88%. The company had revenue of $2.72 million for the quarter, compared to analyst estimates of $2.23 million. As a group, equities analysts anticipate that Westport Fuel Systems will post -1.44 EPS for the current fiscal year.

Institutional Trading of Westport Fuel Systems

A number of institutional investors and hedge funds have recently modified their holdings of WPRT. XTX Topco Ltd bought a new stake in Westport Fuel Systems during the fourth quarter worth $31,000. Susquehanna International Group LLP increased its position in shares of Westport Fuel Systems by 222.6% during the 2nd quarter. Susquehanna International Group LLP now owns 18,017 shares of the auto parts company’s stock valued at $41,000 after purchasing an additional 32,717 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Westport Fuel Systems by 23.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 38,753 shares of the auto parts company’s stock worth $61,000 after purchasing an additional 7,401 shares during the period. Finally, Royce & Associates LP bought a new stake in shares of Westport Fuel Systems during the 4th quarter worth $357,000. 21.30% of the stock is owned by hedge funds and other institutional investors.

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.