Westport Fuel Systems (NASDAQ:WPRT) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.11 and traded as high as $2.14. Westport Fuel Systems shares last traded at $2.05, with a volume of 22,722 shares.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WPRT. Royal Bank Of Canada cut their price target on Westport Fuel Systems from $3.00 to $2.00 and set a “sector perform” rating for the company in a report on Wednesday, November 12th. Zacks Research raised Westport Fuel Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Westport Fuel Systems in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Westport Fuel Systems has an average rating of “Moderate Buy” and an average price target of $6.60.

Westport Fuel Systems Stock Down 2.8%

The firm has a 50-day moving average of $1.93 and a two-hundred day moving average of $2.11. The company has a market capitalization of $35.63 million, a PE ratio of -0.59 and a beta of 2.18.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd acquired a new stake in shares of Westport Fuel Systems during the fourth quarter valued at about $31,000. Goldman Sachs Group Inc. boosted its position in shares of Westport Fuel Systems by 23.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 38,753 shares of the auto parts company’s stock worth $61,000 after purchasing an additional 7,401 shares during the period. Royce & Associates LP acquired a new stake in Westport Fuel Systems in the 4th quarter valued at approximately $357,000. Finally, Grace & White Inc. NY raised its position in Westport Fuel Systems by 11.0% in the fourth quarter. Grace & White Inc. NY now owns 1,160,087 shares of the auto parts company’s stock valued at $1,821,000 after purchasing an additional 114,787 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 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.