Westport Fuel Systems (NASDAQ:WPRT) Issues Quarterly Earnings Results

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) released its 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 net margin of 25.63% and a negative return on equity of 24.16%.

Westport Fuel Systems Price Performance

NASDAQ:WPRT traded down $0.05 on Thursday, reaching $2.10. 82,309 shares of the company’s stock were exchanged, compared to its average volume of 53,817. The firm has a market cap of $36.50 million, a price-to-earnings ratio of -0.60 and a beta of 2.14. The stock has a fifty day simple moving average of $1.99 and a 200-day simple moving average of $1.93. Westport Fuel Systems has a 52 week low of $1.54 and a 52 week high of $4.15.

Institutional Trading of Westport Fuel Systems

An institutional investor recently raised its position in Westport Fuel Systems stock. Goldman Sachs Group Inc. boosted its stake in Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) by 23.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,753 shares of the auto parts company’s stock after purchasing an additional 7,401 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.22% of Westport Fuel Systems worth $61,000 as of its most recent filing with the Securities & Exchange Commission. 21.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WPRT. Zacks Research cut shares of Westport Fuel Systems from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Westport Fuel Systems in a report on Monday. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.