Wealthquest Corp Makes New $925,000 Investment in Westport Fuel Systems Inc. (NASDAQ:WPRT)

Key Points

• Wealthquest Corp invested $925,000 in Westport Fuel Systems, acquiring 249,392 shares, which represents approximately 1.44% of the company's stock.
• Westport Fuel Systems reported a quarterly earnings per share of ($0.14), significantly beating analysts' estimates of ($0.47).
• The company's stock has recently seen various institutional investment activities, with 21.30% of Westport's stock currently held by institutional investors and hedge funds.

Wealthquest Corp acquired a new stake in Westport Fuel Systems Inc. (NASDAQ:WPRT - Free Report) TSE: WPRT in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 249,392 shares of the auto parts company's stock, valued at approximately $925,000. Wealthquest Corp owned approximately 1.44% of Westport Fuel Systems at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in WPRT. TD Waterhouse Canada Inc. boosted its holdings in shares of Westport Fuel Systems by 2,384.7% in the fourth quarter. TD Waterhouse Canada Inc. now owns 16,374 shares of the auto parts company's stock valued at $57,000 after acquiring an additional 15,715 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in shares of Westport Fuel Systems by 34.6% in the fourth quarter. Baird Financial Group Inc. now owns 916,168 shares of the auto parts company's stock valued at $3,280,000 after acquiring an additional 235,610 shares in the last quarter. Millennium Management LLC bought a new position in shares of Westport Fuel Systems in the fourth quarter valued at approximately $149,000. Finally, Parallel Advisors LLC bought a new position in shares of Westport Fuel Systems in the first quarter valued at approximately $40,000. 21.30% of the stock is currently owned by institutional investors.

Westport Fuel Systems Price Performance

NASDAQ:WPRT traded up $0.13 during trading hours on Monday, reaching $3.79. 1,704 shares of the company's stock were exchanged, compared to its average volume of 30,300. The company has a market capitalization of $65.76 million, a P/E ratio of -6.11 and a beta of 2.88. Westport Fuel Systems Inc. has a 12 month low of $2.50 and a 12 month high of $6.20. The company has a quick ratio of 0.94, a current ratio of 1.49 and a debt-to-equity ratio of 0.13. The business's 50-day simple moving average is $3.26 and its two-hundred day simple moving average is $3.48.

Westport Fuel Systems (NASDAQ:WPRT - Get Free Report) TSE: WPRT last posted its quarterly earnings data on Tuesday, May 13th. The auto parts company reported ($0.14) EPS for the quarter, topping analysts' consensus estimates of ($0.47) by $0.33. Westport Fuel Systems had a negative net margin of 3.52% and a negative return on equity of 16.59%. The firm had revenue of $70.96 million during the quarter, compared to analyst estimates of $70.96 million. Sell-side analysts expect that Westport Fuel Systems Inc. will post -1.69 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on WPRT. Wall Street Zen began coverage on shares of Westport Fuel Systems in a report on Friday, May 16th. They set a "hold" rating for the company. HC Wainwright reduced their target price on shares of Westport Fuel Systems from $22.00 to $7.00 and set a "buy" rating for the company in a report on Wednesday, April 9th.

About Westport Fuel Systems

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.