Westport Fuel Systems (NASDAQ:WPRT) Downgraded by BidaskClub to “Strong Sell”

BidaskClub cut shares of Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) from a sell rating to a strong sell rating in a research report sent to investors on Friday, BidAskClub reports.

A number of other equities research analysts have also weighed in on WPRT. Cowen set a $4.00 target price on shares of Westport Fuel Systems and gave the stock a hold rating in a report on Friday, August 9th. Zacks Investment Research raised Westport Fuel Systems from a sell rating to a hold rating and set a $3.00 price objective for the company in a report on Monday, October 14th. Finally, ValuEngine downgraded Westport Fuel Systems from a hold rating to a sell rating in a research note on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $4.50.

WPRT stock traded down $0.04 during midday trading on Friday, reaching $2.25. 530,356 shares of the company’s stock traded hands, compared to its average volume of 602,858. The company has a market cap of $301.73 million, a price-to-earnings ratio of -7.26 and a beta of 1.82. The firm’s fifty day moving average price is $2.64 and its 200-day moving average price is $2.71. The company has a quick ratio of 1.03, a current ratio of 1.47 and a debt-to-equity ratio of 0.56. Westport Fuel Systems has a 52 week low of $1.17 and a 52 week high of $3.39.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last released its quarterly earnings data on Thursday, November 7th. The auto parts company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. Westport Fuel Systems had a negative net margin of 3.37% and a negative return on equity of 19.32%. The firm had revenue of $75.40 million for the quarter, compared to analyst estimates of $72.63 million. Analysts forecast that Westport Fuel Systems will post 0.01 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Paradigm Capital Management Inc. NY raised its holdings in shares of Westport Fuel Systems by 0.4% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,168,700 shares of the auto parts company’s stock valued at $3,167,000 after purchasing an additional 4,500 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Westport Fuel Systems in the 2nd quarter worth about $26,000. Trellus Management Company LLC increased its stake in Westport Fuel Systems by 2.6% in the 3rd quarter. Trellus Management Company LLC now owns 400,000 shares of the auto parts company’s stock valued at $1,088,000 after buying an additional 10,000 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in Westport Fuel Systems in the 3rd quarter valued at about $36,000. Finally, A.R.T. Advisors LLC bought a new position in shares of Westport Fuel Systems during the 2nd quarter worth approximately $40,000. Hedge funds and other institutional investors own 23.92% of the company’s stock.

Westport Fuel Systems Company Profile

Westport Fuel Systems Inc engineers, manufactures, and supplies alternative fuel systems and components for the transportation application worldwide. It operates through Transportation and Cummins Westport Inc (CWI) Joint Venture segments. The company offers fuel systems and components a range of alternative fuels, such as liquefied petroleum gas, compressed natural gas, liquefied natural gas, renewable natural gas, and hydrogen; and independent aftermarket, original equipment manufacturers (OEMs) and delayed OEMs, electronics, current and advanced research and development programs, supply chain, and product planning activities.

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