Westport Fuel Systems (NASDAQ:WPRT) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.01 and traded as high as $2.10. Westport Fuel Systems shares last traded at $2.05, with a volume of 16,350 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have weighed in on WPRT shares. Zacks Research raised shares of Westport Fuel Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Westport Fuel Systems in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $6.60.

Westport Fuel Systems Trading Down 0.5%

The company’s 50-day simple moving average is $2.03 and its 200-day simple moving average is $2.01. The stock has a market capitalization of $35.63 million, a price-to-earnings ratio of -0.59 and a beta of 2.12.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its stake in shares of Westport Fuel Systems by 23.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 38,753 shares of the auto parts company’s stock valued at $61,000 after purchasing an additional 7,401 shares during the last quarter. XTX Topco Ltd bought a new position in Westport Fuel Systems during the fourth quarter worth $31,000. Grace & White Inc. NY lifted its holdings 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 buying an additional 114,787 shares during the period. Finally, Royce & Associates LP bought a new stake in Westport Fuel Systems during the fourth quarter valued at $357,000. Institutional investors own 21.30% of the company’s stock.

About Westport Fuel Systems

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.