Westport Fuel Systems Inc (WPRT) Stake Lifted by Granite Investment Partners LLC
Granite Investment Partners LLC increased its position in shares of Westport Fuel Systems Inc (NASDAQ:WPRT) (TSE:WPRT) by 71.9% during the third quarter, Holdings Channel reports. The institutional investor owned 232,620 shares of the auto parts company’s stock after buying an additional 97,334 shares during the quarter. Granite Investment Partners LLC’s holdings in Westport Fuel Systems were worth $698,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in the stock. Trellus Management Company LLC grew its stake in Westport Fuel Systems by 18.8% during the 2nd quarter. Trellus Management Company LLC now owns 190,000 shares of the auto parts company’s stock worth $481,000 after buying an additional 30,000 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in Westport Fuel Systems during the 2nd quarter worth approximately $151,000. Ardsley Advisory Partners grew its stake in Westport Fuel Systems by 42.9% during the 2nd quarter. Ardsley Advisory Partners now owns 500,000 shares of the auto parts company’s stock worth $1,265,000 after buying an additional 150,000 shares during the last quarter. Cortina Asset Management LLC grew its stake in Westport Fuel Systems by 20.6% during the 2nd quarter. Cortina Asset Management LLC now owns 1,928,576 shares of the auto parts company’s stock worth $4,879,000 after buying an additional 330,047 shares during the last quarter. Finally, Paradigm Capital Management Inc. NY grew its stake in Westport Fuel Systems by 229.2% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 657,530 shares of the auto parts company’s stock worth $1,663,000 after buying an additional 457,780 shares during the last quarter. Hedge funds and other institutional investors own 24.55% of the company’s stock.
A number of research firms recently issued reports on WPRT. Zacks Investment Research downgraded Westport Fuel Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, September 5th. HC Wainwright began coverage on Westport Fuel Systems in a research note on Thursday, September 20th. They set a “buy” rating and a $6.00 price target on the stock. BidaskClub downgraded Westport Fuel Systems from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 26th. Finally, Lake Street Capital raised their price target on Westport Fuel Systems from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Thursday, August 30th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Westport Fuel Systems currently has a consensus rating of “Hold” and a consensus target price of $4.60.
Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last announced its earnings results on Thursday, November 8th. The auto parts company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.04). Westport Fuel Systems had a negative net margin of 13.13% and a negative return on equity of 40.56%. The company had revenue of $65.50 million during the quarter, compared to analysts’ expectations of $59.52 million. During the same quarter last year, the business posted ($0.15) earnings per share. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. On average, research analysts expect that Westport Fuel Systems Inc will post -0.25 EPS for the current fiscal year.
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About Westport Fuel Systems
Westport Fuel Systems Inc engineers, manufactures, and supplies alternative fuel systems and components for the transportation and industrial markets worldwide. It operates through Transportation and Cummins Westport Inc Joint Venture segments. The company designs, manufactures, and sells compressed natural gas (CNG) and liquid petroleum gas (LPG) components and systems, such as pressure regulators, injectors, electronic control units, valves, and filters, as well as bi-fuel, mono-fuel, and dual-fuel LPG and CNG conversion kits for passenger cars, light-duty trucks, and medium-duty vehicles, including original engine manufacture (OEM), delayed OEM, and aftermarket segments.
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