HC Wainwright Cuts Westport Fuel Systems (NASDAQ:WPRT) Price Target to $22.00

Westport Fuel Systems (NASDAQ:WPRT - Get Free Report) TSE: WPRT had its target price decreased by analysts at HC Wainwright from $30.00 to $22.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the auto parts company's stock. HC Wainwright's target price suggests a potential upside of 278.66% from the company's previous close.

WPRT has been the topic of several other reports. Oppenheimer restated an "outperform" rating and set a $19.00 price objective on shares of Westport Fuel Systems in a report on Wednesday, March 27th. TD Securities reduced their price target on Westport Fuel Systems from $8.00 to $7.50 and set a "market perform" rating for the company in a research report on Wednesday, March 27th. Finally, Royal Bank of Canada cut their target price on shares of Westport Fuel Systems from $10.00 to $9.00 and set a "sector perform" rating for the company in a 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's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $13.50.

Westport Fuel Systems Trading Up 3.8 %

Shares of NASDAQ WPRT traded up $0.21 during trading hours on Friday, hitting $5.81. The company's stock had a trading volume of 42,117 shares, compared to its average volume of 51,245. Westport Fuel Systems has a 12 month low of $4.90 and a 12 month high of $12.00. The stock has a market cap of $99.76 million, a price-to-earnings ratio of -2.03 and a beta of 2.47. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.11 and a current ratio of 1.61. The business has a 50-day simple moving average of $6.02 and a 200-day simple moving average of $6.21.

Westport Fuel Systems (NASDAQ:WPRT - Get Free Report) TSE: WPRT last issued 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 business had revenue of $87.20 million during the quarter, compared to the consensus estimate of $82.00 million. On average, analysts anticipate that Westport Fuel Systems will post -1.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Westport Fuel Systems

An institutional investor recently raised its position in Westport Fuel Systems stock. AMH Equity Ltd lifted its position in shares of Westport Fuel Systems Inc. (NASDAQ:WPRT - Free Report) TSE: WPRT by 3.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 258,101 shares of the auto parts company's stock after purchasing an additional 8,101 shares during the period. Westport Fuel Systems comprises about 1.7% of AMH Equity Ltd's holdings, making the stock its 17th largest position. AMH Equity Ltd owned 1.50% of Westport Fuel Systems worth $1,740,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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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