Westport Fuel Systems (NASDAQ:WPRT) Announces Quarterly Earnings Results, Misses Expectations By $0.18 EPS

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) announced its quarterly earnings data on Tuesday. The auto parts company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.18), Zacks reports. Westport Fuel Systems had a negative net margin of 68.55% and a negative return on equity of 37.38%. The firm had revenue of $2.72 million for the quarter, compared to analyst estimates of $2.23 million.

Westport Fuel Systems Price Performance

Shares of NASDAQ WPRT opened at $1.93 on Wednesday. Westport Fuel Systems has a 1-year low of $1.54 and a 1-year high of $3.49. The business’s fifty day moving average price is $1.96 and its two-hundred day moving average price is $1.98. The firm has a market capitalization of $36.67 million, a PE ratio of -0.51 and a beta of 2.13.

Analyst Upgrades and Downgrades

WPRT has been the subject of a number of research analyst reports. Royal Bank Of Canada lowered their price target on Westport Fuel Systems from $2.00 to $1.75 and set a “sector perform” rating for the company in a report on Monday, April 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Westport Fuel Systems in a research note on Friday, July 17th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Westport Fuel Systems has a consensus rating of “Hold” and a consensus target price of $4.38.

Hedge Funds Weigh In On Westport Fuel Systems

A hedge fund recently raised its position in Westport Fuel Systems stock. Goldman Sachs Group Inc. lifted its holdings in shares of Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) by 23.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,753 shares of the auto parts company’s stock after buying an additional 7,401 shares during the period. Goldman Sachs Group Inc. owned approximately 0.22% of Westport Fuel Systems worth $61,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 21.30% of the company’s stock.

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.