Westport Fuel Systems (NASDAQ:WPRT) Releases Earnings Results

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) posted its quarterly earnings results on Tuesday. The auto parts company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.18), Zacks reports. The firm had revenue of $2.72 million during the quarter, compared to the consensus estimate of $2.23 million. Westport Fuel Systems had a negative return on equity of 48.51% and a negative net margin of 493.15%.

Westport Fuel Systems Price Performance

Shares of WPRT opened at $1.82 on Thursday. The firm has a market cap of $34.57 million, a P/E ratio of -0.76 and a beta of 2.13. Westport Fuel Systems has a 1 year low of $1.54 and a 1 year high of $3.36. The company has a 50 day simple moving average of $1.96 and a two-hundred day simple moving average of $1.98.

Hedge Funds Weigh In On Westport Fuel Systems

A hedge fund recently bought a new position in Westport Fuel Systems stock. XTX Topco Ltd purchased a new stake in Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 19,468 shares of the auto parts company’s stock, valued at approximately $31,000. XTX Topco Ltd owned about 0.11% of Westport Fuel Systems as of its most recent filing with the SEC. 21.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on WPRT shares. Royal Bank Of Canada lowered their target price on shares of Westport Fuel Systems from $2.00 to $1.75 and set a “sector perform” rating on the stock in a research note on Monday, April 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Westport Fuel Systems in a research note on Friday, July 17th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $1.75.

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.