Westport Fuel Systems Inc. Expected to Post Q1 2023 Earnings of ($0.08) Per Share (NASDAQ:WPRT)

Westport Fuel Systems Inc. (NASDAQ:WPRT – Get Rating) (TSE:WPRT) – Equities research analysts at Oppenheimer issued their Q1 2023 earnings per share (EPS) estimates for shares of Westport Fuel Systems in a research report issued on Tuesday, March 14th. Oppenheimer analyst C. Rusch expects that the auto parts company will earn ($0.08) per share for the quarter. The consensus estimate for Westport Fuel Systems’ current full-year earnings is ($0.16) per share. Oppenheimer also issued estimates for Westport Fuel Systems’ Q2 2023 earnings at ($0.07) EPS and FY2024 earnings at ($0.10) EPS.

A number of other research analysts also recently commented on WPRT. StockNews.com started coverage on shares of Westport Fuel Systems in a research report on Thursday. They set a “sell” rating on the stock. Royal Bank of Canada cut their price objective on shares of Westport Fuel Systems from $2.50 to $1.50 and set a “sector perform” rating on the stock in a report on Wednesday.

Westport Fuel Systems Stock Performance

WPRT stock opened at $0.87 on Thursday. Westport Fuel Systems has a 1-year low of $0.75 and a 1-year high of $1.79. The business has a 50-day moving average price of $1.08 and a 200 day moving average price of $0.96. The company has a market capitalization of $149.78 million, a P/E ratio of -4.37 and a beta of 2.49. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.33 and a quick ratio of 1.61.

Institutional Investors Weigh In On Westport Fuel Systems

Hedge funds have recently made changes to their positions in the stock. Captrust Financial Advisors grew its stake in Westport Fuel Systems by 107.6% in the third quarter. Captrust Financial Advisors now owns 34,876 shares of the auto parts company’s stock valued at $30,000 after purchasing an additional 18,076 shares during the last quarter. Advisor Group Holdings Inc. raised its stake in shares of Westport Fuel Systems by 70.8% during the 1st quarter. Advisor Group Holdings Inc. now owns 21,226 shares of the auto parts company’s stock worth $34,000 after acquiring an additional 8,800 shares in the last quarter. MGO One Seven LLC lifted its position in Westport Fuel Systems by 25.6% during the fourth quarter. MGO One Seven LLC now owns 54,847 shares of the auto parts company’s stock valued at $42,000 after acquiring an additional 11,178 shares during the last quarter. Two Sigma Investments LP acquired a new stake in Westport Fuel Systems in the fourth quarter valued at approximately $45,000. Finally, Toronto Dominion Bank grew its holdings in Westport Fuel Systems by 159.5% in the second quarter. Toronto Dominion Bank now owns 46,132 shares of the auto parts company’s stock worth $46,000 after purchasing an additional 28,357 shares during the last quarter. 13.70% of the stock is currently owned by hedge funds and other institutional investors.

About Westport Fuel Systems

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Westport Fuel Systems, Inc engages in the business of engineering, manufacturing, and supplying alternative fuel systems and components for transportation applications. It operates through the following segments: Original Equipment Manufacturers (OEM), Independent Aftermarket (IAM), and Corporate. The OEM segment includes designing, manufacturing, and selling alternative fuel systems, components, and electronics including the HPDI 2.0 fuel systems product and engineering services.