Westport Fuel Systems (NASDAQ:WPRT) Posts Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) posted its quarterly earnings data on Thursday. The auto parts company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.11, Zacks reports. Westport Fuel Systems had a negative return on equity of 27.03% and a negative net margin of 37.73%.

Westport Fuel Systems Trading Up 1.3%

Westport Fuel Systems stock traded up $0.03 during midday trading on Thursday, reaching $2.00. The stock had a trading volume of 31,279 shares, compared to its average volume of 52,445. Westport Fuel Systems has a 12 month low of $1.54 and a 12 month high of $4.15. The company has a market capitalization of $34.71 million, a P/E ratio of -0.56 and a beta of 2.14. The company has a fifty day moving average price of $1.98 and a two-hundred day moving average price of $1.91.

Hedge Funds Weigh In On Westport Fuel Systems

An institutional investor recently bought a new position in Westport Fuel Systems stock. XTX Topco Ltd purchased a new stake in shares of Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) in the fourth quarter, according to the company in 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 owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Zacks Research lowered Westport Fuel Systems from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Westport Fuel Systems in a research report on Monday, April 20th. Finally, Royal Bank Of Canada decreased their target price on Westport Fuel Systems from $2.00 to $1.75 and set a “sector perform” rating for the company in a research report on Monday, April 27th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $4.38.

Westport Fuel Systems Company Profile

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.