HC Wainwright Reaffirms Buy Rating for Westport Fuel Systems (NASDAQ:WPRT)

Key Points

• HC Wainwright has reaffirmed a buy rating for Westport Fuel Systems (NASDAQ:WPRT) with a target price of $7.00, indicating a potential upside of 108.96% from its current stock price.
• The company's latest earnings report showed a loss of ($0.29) EPS, meeting analysts' expectations, but reported revenues of $12.50 million, significantly below expectations of $75.49 million.
• Institutional investors have shown increased interest in Westport Fuel Systems, with companies like Wealthquest Corp and Baird Financial Group acquiring significant stakes in the first and fourth quarters respectively.

Westport Fuel Systems (NASDAQ:WPRT - Get Free Report) TSE: WPRT's stock had its "buy" rating reiterated by equities research analysts at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They currently have a $7.00 target price on the auto parts company's stock. HC Wainwright's price objective suggests a potential upside of 108.96% from the company's current price.

Separately, Wall Street Zen started coverage on shares of Westport Fuel Systems in a research note on Friday, May 16th. They issued a "hold" rating for the company.

Westport Fuel Systems Stock Performance

WPRT stock opened at $3.35 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.94 and a current ratio of 1.49. The stock has a market cap of $58.12 million, a P/E ratio of -1.14 and a beta of 2.88. The firm has a 50 day simple moving average of $3.37 and a 200 day simple moving average of $3.46. Westport Fuel Systems has a 52 week low of $2.50 and a 52 week high of $6.20.

Westport Fuel Systems (NASDAQ:WPRT - Get Free Report) TSE: WPRT last posted its earnings results on Monday, August 11th. The auto parts company reported ($0.29) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.29). Westport Fuel Systems had a negative net margin of 16.85% and a negative return on equity of 15.19%. The firm had revenue of $12.50 million during the quarter, compared to analysts' expectations of $75.49 million. Research analysts anticipate that Westport Fuel Systems will post -1.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Westport Fuel Systems

Institutional investors and hedge funds have recently bought and sold shares of the business. Wealthquest Corp bought a new stake in Westport Fuel Systems in the 1st quarter valued at $925,000. Millennium Management LLC acquired a new stake in shares of Westport Fuel Systems during the 4th quarter worth about $149,000. Parallel Advisors LLC acquired a new stake in shares of Westport Fuel Systems during the 1st quarter worth about $40,000. Baird Financial Group Inc. increased its position in shares of Westport Fuel Systems by 34.6% during the 4th quarter. Baird Financial Group Inc. now owns 916,168 shares of the auto parts company's stock worth $3,280,000 after purchasing an additional 235,610 shares in the last quarter. Finally, TD Waterhouse Canada Inc. increased its position in shares of Westport Fuel Systems by 2,384.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 16,374 shares of the auto parts company's stock worth $57,000 after purchasing an additional 15,715 shares in the last quarter. Institutional investors own 21.30% of the company's stock.

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.

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