Morgan Stanley Decreases Holdings in Westport Fuel Systems Inc (NASDAQ:WPRT)

Morgan Stanley trimmed its stake in Westport Fuel Systems Inc (NASDAQ:WPRT) (TSE:WPRT) by 6.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 345,040 shares of the auto parts company’s stock after selling 22,886 shares during the period. Morgan Stanley’s holdings in Westport Fuel Systems were worth $934,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of WPRT. Renaissance Technologies LLC increased its stake in shares of Westport Fuel Systems by 18.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,622,320 shares of the auto parts company’s stock worth $4,396,000 after purchasing an additional 255,900 shares in the last quarter. Ardsley Advisory Partners LP purchased a new stake in shares of Westport Fuel Systems in the 2nd quarter worth $272,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Westport Fuel Systems by 15.6% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 632,885 shares of the auto parts company’s stock worth $1,719,000 after purchasing an additional 85,200 shares in the last quarter. A.R.T. Advisors LLC purchased a new stake in shares of Westport Fuel Systems in the 2nd quarter worth $40,000. Finally, Stonehearth Capital Management LLC purchased a new stake in shares of Westport Fuel Systems in the 2nd quarter worth $28,000. Hedge funds and other institutional investors own 21.37% of the company’s stock.

Shares of WPRT stock opened at $2.99 on Thursday. Westport Fuel Systems Inc has a 52-week low of $1.17 and a 52-week high of $3.27. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.04 and a current ratio of 1.41. The firm has a market capitalization of $369.46 million, a PE ratio of -9.65 and a beta of 1.81. The stock has a fifty day simple moving average of $2.66 and a two-hundred day simple moving average of $2.62.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last issued its quarterly earnings results on Thursday, August 8th. The auto parts company reported ($0.02) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.02). Westport Fuel Systems had a negative return on equity of 30.62% and a negative net margin of 6.36%. The business had revenue of $82.40 million during the quarter, compared to analyst estimates of $73.60 million. During the same quarter in the prior year, the business posted ($0.04) EPS. Westport Fuel Systems’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, sell-side analysts forecast that Westport Fuel Systems Inc will post -0.09 EPS for the current fiscal year.

Several research firms have recently commented on WPRT. BidaskClub lowered Westport Fuel Systems from a “hold” rating to a “sell” rating in a research note on Friday, October 4th. Cowen set a $4.00 price objective on Westport Fuel Systems and gave the stock a “hold” rating in a research note on Friday, August 9th. ValuEngine lowered Westport Fuel Systems from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. Finally, Zacks Investment Research upgraded Westport Fuel Systems from a “sell” rating to a “hold” rating and set a $3.00 price objective for the company in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $4.50.

Westport Fuel Systems Profile

Westport Fuel Systems Inc engineers, manufactures, and supplies alternative fuel systems and components for the transportation application worldwide. It operates through Transportation and Cummins Westport Inc (CWI) Joint Venture segments. The company offers fuel systems and components 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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Institutional Ownership by Quarter for Westport Fuel Systems (NASDAQ:WPRT)

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