Westport Fuel Systems Inc. Expected to Post Q3 2023 Earnings of ($0.07) Per Share (NASDAQ:WPRT)

Westport Fuel Systems Inc. (NASDAQ:WPRT – Get Rating) (TSE:WPRT) – Equities research analysts at Oppenheimer issued their Q3 2023 EPS estimates for Westport Fuel Systems in a research report issued on Tuesday, March 14th. Oppenheimer analyst C. Rusch expects that the auto parts company will post earnings per share of ($0.07) for the quarter. The consensus estimate for Westport Fuel Systems’ current full-year earnings is ($0.15) per share. Oppenheimer also issued estimates for Westport Fuel Systems’ Q4 2023 earnings at ($0.05) EPS and FY2023 earnings at ($0.26) EPS.

Several other equities research analysts also recently issued reports on WPRT. StockNews.com began coverage on shares of Westport Fuel Systems in a research note on Thursday. They set a “sell” rating for the company. Royal Bank of Canada reduced their target price on shares of Westport Fuel Systems from $2.50 to $1.50 and set a “sector perform” rating on the stock in a research report on Wednesday.

Westport Fuel Systems Stock Performance

Shares of NASDAQ WPRT opened at $0.84 on Friday. The company has a market cap of $143.89 million, a PE ratio of -4.20 and a beta of 2.49. Westport Fuel Systems has a 12 month low of $0.75 and a 12 month high of $1.77. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.05 and a quick ratio of 1.61. The company has a 50-day simple moving average of $1.08 and a 200-day simple moving average of $0.96.

Hedge Funds Weigh In On Westport Fuel Systems

Institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its position in shares of Westport Fuel Systems by 251.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 35,111 shares of the auto parts company’s stock valued at $55,000 after purchasing an additional 25,111 shares in the last quarter. Advisor Group Holdings Inc. lifted its stake in Westport Fuel Systems by 70.8% during the first quarter. Advisor Group Holdings Inc. now owns 21,226 shares of the auto parts company’s stock valued at $34,000 after buying an additional 8,800 shares in the last quarter. Swiss National Bank lifted its stake in Westport Fuel Systems by 18.6% during the first quarter. Swiss National Bank now owns 345,500 shares of the auto parts company’s stock valued at $555,000 after buying an additional 54,200 shares in the last quarter. US Bancorp DE lifted its stake in Westport Fuel Systems by 26.6% during the first quarter. US Bancorp DE now owns 350,006 shares of the auto parts company’s stock valued at $553,000 after buying an additional 73,463 shares in the last quarter. Finally, Cibc World Market Inc. purchased a new stake in shares of Westport Fuel Systems in the first quarter worth approximately $51,000. Institutional investors own 13.70% of the company’s stock.

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.