Westport Fuel Systems (NASDAQ:WPRT) Announces Earnings Results

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) released its quarterly earnings results on Thursday. The auto parts company reported ($0.52) earnings per share for the quarter, Zacks reports. Westport Fuel Systems had a negative return on equity of 24.16% and a negative net margin of 25.63%.

Westport Fuel Systems Stock Performance

NASDAQ WPRT traded down $0.05 during trading hours on Thursday, hitting $2.10. 82,299 shares of the company traded hands, compared to its average volume of 53,817. The business’s 50-day moving average is $1.99 and its 200-day moving average is $1.93. The stock has a market capitalization of $36.50 million, a price-to-earnings ratio of -0.60 and a beta of 2.14. Westport Fuel Systems has a twelve month low of $1.54 and a twelve month high of $4.15.

Institutional Investors Weigh In On Westport Fuel Systems

An institutional investor recently bought a new position in Westport Fuel Systems stock. XTX Topco Ltd bought a new position in shares of Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 19,468 shares of the auto parts company’s stock, valued at approximately $31,000. XTX Topco Ltd owned about 0.11% of Westport Fuel Systems at the end of the most recent quarter. Institutional investors and hedge funds own 21.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Westport Fuel Systems in a research report on Monday. Zacks Research downgraded shares of Westport Fuel Systems from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $4.50.

About Westport Fuel Systems

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.