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

Shares of Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $1.95 and traded as high as $2.04. Westport Fuel Systems shares last traded at $2.04, with a volume of 24,603 shares.

Wall Street Analysts Forecast Growth

WPRT has been the topic of several research analyst reports. ATB Cormark Capital Markets set a $2.65 target price on shares of Westport Fuel Systems and gave the company a “speculative buy” rating in a research report on Monday, August 24th. Royal Bank Of Canada reduced their price target on shares of Westport Fuel Systems from $1.75 to $1.00 and set a “sector perform” rating for the company in a research report on Thursday, August 13th. Finally, Weiss Ratings raised shares of Westport Fuel Systems from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, September 14th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Westport Fuel Systems presently has an average rating of “Hold” and an average price target of $1.82.

Westport Fuel Systems Price Performance

The stock has a market cap of $35.32 million, a price-to-earnings ratio of -0.84 and a beta of 2.14. The firm has a fifty day moving average of $1.86 and a 200 day moving average of $1.95.

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

Institutional Investors Weigh In On Westport Fuel Systems

A hedge fund recently bought a new stake in Westport Fuel Systems stock. Royce & Associates LP bought a new position in shares of Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 227,504 shares of the auto parts company’s stock, valued at approximately $357,000. Royce & Associates LP owned 1.31% of Westport Fuel Systems at the end of the most recent reporting period. 21.30% of the stock is currently owned by institutional investors and hedge funds.

Westport Fuel Systems Company Profile

Westport Fuel Systems Inc (NASDAQ:WPRT) is a Canada-based company that develops and supplies alternative-fuel systems and components for transportation and other applications. Its technologies are designed to enable vehicles and engines to operate on fuels such as natural gas, renewable natural gas, liquefied natural gas, compressed natural gas, hydrogen and liquefied petroleum gas.

The company’s product portfolio includes high-pressure direct injection systems, fuel injectors, regulators, fuel-delivery components, electronic controls and complete fuel-system solutions.