Westport Fuel Systems (NASDAQ:WPRT) Earns “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) in a research report report published on Wednesday morning,Benzinga reports. They currently have a $7.00 price target on the auto parts company’s stock.

Separately, Wall Street Zen started coverage on Westport Fuel Systems in a research report on Friday, May 16th. They set a “hold” rating for the company.

Westport Fuel Systems Trading Down 2.7%

Shares of WPRT opened at $2.87 on Wednesday. Westport Fuel Systems has a twelve month low of $2.50 and a twelve month high of $6.20. The company has a quick ratio of 0.94, a current ratio of 1.43 and a debt-to-equity ratio of 0.01. The stock has a market cap of $49.79 million, a PE ratio of -0.98 and a beta of 2.88. The business’s 50-day moving average price is $3.38 and its 200-day moving average price is $3.44.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last released its quarterly earnings data on Monday, August 11th. The auto parts company reported ($0.29) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.29). Westport Fuel Systems had a negative return on equity of 16.12% and a negative net margin of 16.85%. The firm had revenue of $12.50 million during the quarter, compared to analyst estimates of $75.49 million. On average, equities analysts forecast that Westport Fuel Systems will post -1.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Westport Fuel Systems

Several large investors have recently bought and sold shares of WPRT. Banque Transatlantique SA bought a new stake in Westport Fuel Systems in the 1st quarter worth about $1,371,000. Wealthquest Corp purchased a new position in Westport Fuel Systems in the 1st quarter worth approximately $925,000. Baird Financial Group Inc. raised 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 worth $3,280,000 after acquiring an additional 235,610 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Westport Fuel Systems during the 4th quarter worth approximately $149,000. Finally, TD Waterhouse Canada Inc. increased its position 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 purchasing an additional 15,715 shares during the last quarter. 21.30% of the stock is currently owned by institutional investors.

About Westport Fuel Systems

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.