HC Wainwright Issues Pessimistic Forecast for Westport Fuel Systems (NASDAQ:WPRT) Stock Price

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) had its target price decreased by HC Wainwright from $22.00 to $7.00 in a research report released on Wednesday,Benzinga reports. HC Wainwright currently has a buy rating on the auto parts company’s stock. HC Wainwright also issued estimates for Westport Fuel Systems’ Q1 2025 earnings at ($0.47) EPS, Q2 2025 earnings at ($0.39) EPS, Q3 2025 earnings at ($0.90) EPS, Q4 2025 earnings at ($0.66) EPS, FY2025 earnings at ($2.42) EPS, FY2026 earnings at ($1.15) EPS, FY2027 earnings at ($0.91) EPS, FY2028 earnings at ($0.42) EPS and FY2029 earnings at ($0.39) EPS.

Several other brokerages also recently weighed in on WPRT. Cormark cut their price target on Westport Fuel Systems from $11.50 to $10.80 in a report on Tuesday, April 1st. Royal Bank of Canada dropped their target price on Westport Fuel Systems from $8.00 to $4.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 1st.

Westport Fuel Systems Stock Up 3.2 %

Westport Fuel Systems stock opened at $2.87 on Wednesday. Westport Fuel Systems has a fifty-two week low of $2.50 and a fifty-two week high of $6.60. The firm has a market capitalization of $49.60 million, a price-to-earnings ratio of -1.93 and a beta of 2.80. The stock’s fifty day moving average is $3.85 and its two-hundred day moving average is $4.06. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.00 and a current ratio of 1.60.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last issued its quarterly earnings data on Monday, March 31st. The auto parts company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.35). The company had revenue of $75.10 million for the quarter, compared to analyst estimates of $70.68 million. Westport Fuel Systems had a negative return on equity of 25.57% and a negative net margin of 8.01%. Analysts predict that Westport Fuel Systems will post -1.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Westport Fuel Systems

Several hedge funds and other institutional investors have recently modified their holdings of the company. Grace & White Inc. NY increased its position in Westport Fuel Systems by 40.3% during the 4th quarter. Grace & White Inc. NY now owns 1,043,980 shares of the auto parts company’s stock worth $3,737,000 after purchasing an additional 299,798 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Westport Fuel Systems in the fourth quarter worth $149,000. Parallel Advisors LLC purchased a new position in shares of Westport Fuel Systems in the 1st quarter valued at $40,000. Baird Financial Group Inc. lifted its holdings in shares of Westport Fuel Systems by 34.6% during the 4th quarter. Baird Financial Group Inc. now owns 916,168 shares of the auto parts company’s stock valued at $3,280,000 after acquiring an additional 235,610 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its holdings in shares of Westport Fuel Systems by 2,384.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 16,374 shares of the auto parts company’s stock valued at $57,000 after acquiring an additional 15,715 shares in the last quarter. 21.30% of the stock is owned by institutional investors and hedge funds.

Westport Fuel Systems Company Profile

Westport Fuel Systems Inc engages in the engineering, manufacturing, and supplying alternative fuel systems and components for use in transportation applications in Europe, Asia, North America, South America, and internationally. The company operates through two segments, Original Equipment Manufacturers and Independent Aftermarket.