Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) saw a significant decline in short interest in December. As of December 31st, there was short interest totalling 2,400,000 shares, a decline of 38.1% from the December 15th total of 3,880,000 shares. Currently, 2.2% of the company's stock are short sold. Based on an average daily volume of 2,750,000 shares, the days-to-cover ratio is currently 0.9 days.
A number of institutional investors have recently made changes to their positions in the stock. Founders Capital Management bought a new stake in Westport Fuel Systems in the fourth quarter valued at about $40,000. Virtu Financial LLC bought a new position in shares of Westport Fuel Systems during the third quarter valued at approximately $113,000. Platform Technology Partners bought a new position in shares of Westport Fuel Systems during the third quarter valued at approximately $40,000. Two Sigma Securities LLC bought a new position in shares of Westport Fuel Systems during the third quarter valued at approximately $35,000. Finally, Manatuck Hill Partners LLC bought a new position in shares of Westport Fuel Systems during the third quarter valued at approximately $996,000. 18.42% of the stock is owned by hedge funds and other institutional investors.
WPRT has been the topic of several recent analyst reports. BidaskClub cut Westport Fuel Systems from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, December 30th. Zacks Investment Research cut Westport Fuel Systems from a "strong-buy" rating to a "sell" rating and set a $2.25 price target on the stock. in a research note on Monday, October 12th. Finally, ValuEngine cut Westport Fuel Systems from a "buy" rating to a "hold" rating in a research note on Tuesday, December 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The stock has an average rating of "Buy" and a consensus price target of $3.56.
Shares of Westport Fuel Systems stock opened at $7.06 on Thursday. The company has a quick ratio of 0.84, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. The firm has a market cap of $968.55 million, a P/E ratio of -141.17 and a beta of 1.76. Westport Fuel Systems has a fifty-two week low of $0.70 and a fifty-two week high of $7.40. The business has a 50-day moving average price of $4.82 and a 200 day moving average price of $2.59.
Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last announced its quarterly earnings data on Monday, November 9th. The auto parts company reported $0.01 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of ($0.04) by $0.05. The firm had revenue of $65.41 million during the quarter, compared to analyst estimates of $52.65 million. Westport Fuel Systems had a negative return on equity of 15.61% and a negative net margin of 2.61%. As a group, equities research analysts anticipate that Westport Fuel Systems will post -0.12 earnings per share for the current year.
About Westport Fuel Systems
Westport Fuel Systems Inc engineers, manufactures, and supplies alternative fuel systems and components for use in transportation applications worldwide. It operates through Transportation and Cummins Westport Inc (CWI) Joint Venture segments. The company offers alternative fuel systems and components, which include a range of alternative fuels, such as liquefied petroleum gas, compressed natural gas, liquefied natural gas, renewable natural gas, and hydrogen; and independent aftermarket, original equipment manufacturers (OEMs) and delayed OEMs, electronics, current and advanced research and development programs, supply chain, and product planning activities.
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