Westport Fuel Systems (NASDAQ:WPRT) Price Target Lowered to $9.00 at Royal Bank of Canada

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) had its target price lowered by Royal Bank of Canada from $10.00 to $9.00 in a research report released on Wednesday morning, Marketbeat reports. The firm currently has a sector perform rating on the auto parts company’s stock.

Other research analysts have also recently issued research reports about the stock. Oppenheimer restated an outperform rating and issued a $19.00 target price on shares of Westport Fuel Systems in a report on Wednesday. HC Wainwright restated a buy rating and issued a $30.00 price objective on shares of Westport Fuel Systems in a research report on Wednesday. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $15.10.

Westport Fuel Systems Stock Down 0.3 %

Shares of WPRT opened at $6.80 on Wednesday. Westport Fuel Systems has a 1 year low of $4.90 and a 1 year high of $12.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 1.14. The stock has a 50 day simple moving average of $6.00 and a two-hundred day simple moving average of $6.24. The firm has a market cap of $116.76 million, a P/E ratio of -2.38 and a beta of 2.45.

Hedge Funds Weigh In On Westport Fuel Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. increased its position in Westport Fuel Systems by 251.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 35,111 shares of the auto parts company’s stock valued at $55,000 after purchasing an additional 25,111 shares during the period. Advisor Group Holdings Inc. increased its position in shares of Westport Fuel Systems by 70.8% during the first quarter. Advisor Group Holdings Inc. now owns 21,226 shares of the auto parts company’s stock valued at $34,000 after buying an additional 8,800 shares during the period. Swiss National Bank raised its stake in Westport Fuel Systems by 18.6% in the first quarter. Swiss National Bank now owns 345,500 shares of the auto parts company’s stock worth $555,000 after buying an additional 54,200 shares in the last quarter. US Bancorp DE lifted its holdings in Westport Fuel Systems by 26.6% in the first quarter. US Bancorp DE now owns 350,006 shares of the auto parts company’s stock worth $553,000 after buying an additional 73,463 shares during the period. Finally, Cibc World Market Inc. bought a new stake in Westport Fuel Systems during the 1st quarter valued at approximately $51,000. Institutional investors own 21.30% of the company’s stock.

Westport Fuel Systems Company Profile

Westport Fuel Systems Inc engages in the engineering, manufacturing, and supplying alternative fuel systems and components for use in transportation applications in Europe, the Americas, Asia, Africa, and internationally. The company operates through Original Equipment Manufacturer and Independent Aftermarket segments.