Harel Insurance Investments & Financial Services Ltd. bought a new stake in Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 40,000 shares of the auto parts company’s stock, valued at approximately $961,000.
Other hedge funds have also recently made changes to their positions in the company. Hudock Inc. acquired a new position in Westport Fuel Systems in the 4th quarter valued at about $28,000. LPL Financial LLC acquired a new position in Westport Fuel Systems in the 4th quarter valued at about $66,000. Founders Capital Management acquired a new position in Westport Fuel Systems in the 4th quarter valued at about $40,000. Caption Management LLC acquired a new position in Westport Fuel Systems in the 4th quarter valued at about $107,000. Finally, Kestra Private Wealth Services LLC raised its stake in Westport Fuel Systems by 16.7% in the 4th quarter. Kestra Private Wealth Services LLC now owns 24,476 shares of the auto parts company’s stock valued at $132,000 after purchasing an additional 3,500 shares during the last quarter. 18.42% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on WPRT. Lake Street Capital boosted their target price on shares of Westport Fuel Systems from $4.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, January 22nd. Oppenheimer began coverage on shares of Westport Fuel Systems in a research note on Thursday, January 21st. They set a “buy” rating and a $10.00 price objective for the company. Finally, HC Wainwright upped their price objective on shares of Westport Fuel Systems from $5.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, March 23rd.
Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last posted its earnings results on Monday, March 15th. The auto parts company reported $0.03 earnings per share (EPS) for the quarter. The firm had revenue of $83.90 million during the quarter, compared to the consensus estimate of $69.41 million. Westport Fuel Systems had a negative net margin of 2.61% and a negative return on equity of 15.61%. As a group, equities research analysts anticipate that Westport Fuel Systems Inc. will post -0.12 EPS for the current year.
About Westport Fuel Systems
Westport Fuel Systems Inc engineers, manufactures, and supplies alternative fuel systems and components for use in transportation applications worldwide. It operates through Original Equipment Manufacturer, Independent Aftermarket, and Cummins Westport Inc (CWI) Joint Venture segments. The company offers alternative fuel systems and components, which include 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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