Oppenheimer Reaffirms Outperform Rating for Westport Fuel Systems (NASDAQ:WPRT)

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT)‘s stock had its “outperform” rating reaffirmed by stock analysts at Oppenheimer in a research report issued on Wednesday, Benzinga reports. They presently have a $19.00 price target on the auto parts company’s stock. Oppenheimer’s price objective suggests a potential upside of 181.90% from the company’s previous close.

Westport Fuel Systems Trading Down 0.9 %

Shares of Westport Fuel Systems stock opened at $6.74 on Wednesday. The company has a market capitalization of $115.73 million, a price-to-earnings ratio of -2.36 and a beta of 2.45. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.19. Westport Fuel Systems has a 12-month low of $4.90 and a 12-month high of $12.00. The firm’s 50-day moving average price is $6.02 and its two-hundred day moving average price is $6.25.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in WPRT. Millennium Management LLC lifted its holdings in shares of Westport Fuel Systems by 55.6% in the second quarter. Millennium Management LLC now owns 2,637,699 shares of the auto parts company’s stock worth $2,664,000 after acquiring an additional 942,667 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Westport Fuel Systems by 114.4% in the first quarter. Renaissance Technologies LLC now owns 1,612,896 shares of the auto parts company’s stock worth $2,548,000 after acquiring an additional 860,617 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in shares of Westport Fuel Systems by 10.6% in the fourth quarter. Baird Financial Group Inc. now owns 3,416,271 shares of the auto parts company’s stock worth $2,647,000 after acquiring an additional 327,021 shares during the last quarter. UBS Group AG raised its holdings in Westport Fuel Systems by 47.3% in the 1st quarter. UBS Group AG now owns 742,357 shares of the auto parts company’s stock valued at $707,000 after buying an additional 238,269 shares during the last quarter. Finally, AMH Equity Ltd bought a new position in Westport Fuel Systems in the 3rd quarter valued at approximately $991,000. Institutional investors own 21.30% of the company’s stock.

Westport Fuel Systems Company Profile

Westport Fuel Systems Inc engages in the engineering, manufacturing, and supplying alternative fuel systems and components for use in transportation applications in Europe, the Americas, Asia, Africa, and internationally. The company operates through Original Equipment Manufacturer and Independent Aftermarket segments.