Westport Fuel Systems (NASDAQ:WPRT) Share Price Passes Above 200-Day Moving Average – Time to Sell?

Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.92 and traded as high as $1.99. Westport Fuel Systems shares last traded at $1.95, with a volume of 31,439 shares.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WPRT. Weiss Ratings restated a “sell (e+)” rating on shares of Westport Fuel Systems in a report on Monday, April 20th. Zacks Research lowered Westport Fuel Systems from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Finally, Royal Bank Of Canada lowered their target price 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. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Westport Fuel Systems has a consensus rating of “Hold” and a consensus price target of $4.38.

Westport Fuel Systems Stock Performance

The firm has a fifty day moving average price of $1.98 and a 200 day moving average price of $1.92. The stock has a market cap of $33.05 million, a PE ratio of -0.51 and a beta of 2.12.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last issued its quarterly earnings data on Thursday, April 23rd. The auto parts company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.05). Westport Fuel Systems had a negative net margin of 68.55% and a negative return on equity of 37.38%. The business had revenue of $1.16 million for the quarter, compared to analysts’ expectations of $1.13 million. On average, equities research analysts forecast that Westport Fuel Systems Inc. will post -1.44 earnings per share for the current year.

Institutional Trading of Westport Fuel Systems

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Grace & White Inc. NY lifted its holdings in shares of Westport Fuel Systems by 11.0% during the 4th quarter. Grace & White Inc. NY now owns 1,160,087 shares of the auto parts company’s stock valued at $1,821,000 after purchasing an additional 114,787 shares during the last quarter. Royce & Associates LP purchased a new position in Westport Fuel Systems in the 4th quarter worth $357,000. Goldman Sachs Group Inc. raised its stake in Westport Fuel Systems by 23.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 38,753 shares of the auto parts company’s stock worth $61,000 after acquiring an additional 7,401 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in Westport Fuel Systems in the 4th quarter worth $31,000. 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.