Westport Fuel Systems Inc. (NASDAQ:WPRT) Sees Significant Drop in Short Interest

Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) was the recipient of a significant decrease in short interest during the month of April. As of April 15th, there was short interest totalling 420,000 shares, a decrease of 14.2% from the March 31st total of 489,600 shares. Based on an average trading volume of 53,300 shares, the short-interest ratio is currently 7.9 days. Approximately 2.8% of the company’s shares are short sold.

Wall Street Analyst Weigh In

A number of research firms recently commented on WPRT. TD Securities decreased their price objective on Westport Fuel Systems from $8.00 to $7.50 and set a “market perform” rating on the stock in a report on Wednesday, March 27th. Royal Bank of Canada cut their target price on Westport Fuel Systems from $10.00 to $9.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 27th. Oppenheimer reissued an “outperform” rating and issued a $19.00 target price on shares of Westport Fuel Systems in a research report on Wednesday, March 27th. Finally, HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Westport Fuel Systems in a research report on Wednesday, March 27th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $15.10.

Westport Fuel Systems Stock Up 0.9 %

Shares of NASDAQ WPRT opened at $5.69 on Monday. The firm has a market cap of $97.73 million, a price-to-earnings ratio of -1.99 and a beta of 2.45. The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 0.19. Westport Fuel Systems has a 52-week low of $4.90 and a 52-week high of $12.00. The business’s 50 day moving average is $6.09 and its two-hundred day moving average is $6.20.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last posted its quarterly earnings data on Monday, March 25th. The auto parts company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.19). Westport Fuel Systems had a negative return on equity of 26.18% and a negative net margin of 14.97%. The company had revenue of $87.20 million for the quarter, compared to analysts’ expectations of $82.00 million. Research analysts predict that Westport Fuel Systems will post -1.73 EPS for the current year.

Institutional Trading of Westport Fuel Systems

A number of large investors have recently modified their holdings of WPRT. AMH Equity Ltd purchased a new stake in shares of Westport Fuel Systems during the third quarter worth $991,000. Grace & White Inc. NY increased its position in shares of Westport Fuel Systems by 31.4% during the fourth quarter. Grace & White Inc. NY now owns 525,451 shares of the auto parts company’s stock worth $3,478,000 after acquiring an additional 125,575 shares during the period. Trellus Management Company LLC increased its position in shares of Westport Fuel Systems by 32.1% during the third quarter. Trellus Management Company LLC now owns 83,238 shares of the auto parts company’s stock worth $504,000 after acquiring an additional 20,238 shares during the period. Finally, AE Wealth Management LLC increased its position in shares of Westport Fuel Systems by 25.0% during the third quarter. AE Wealth Management LLC now owns 51,439 shares of the auto parts company’s stock worth $312,000 after acquiring an additional 10,300 shares during the period. Hedge funds and other 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, Asia, North America, South America, and internationally. The company operates through two segments, Original Equipment Manufacturers and Independent Aftermarket.