Westport Fuel Systems Inc. (NASDAQ:WPRT) Short Interest Update

Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) saw a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 420,000 shares, a decline of 14.2% from the March 31st total of 489,600 shares. Currently, 2.8% of the company’s stock are sold short. Based on an average daily trading volume, of 53,300 shares, the short-interest ratio is currently 7.9 days.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on WPRT shares. HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of Westport Fuel Systems in a research report on Wednesday, March 27th. Oppenheimer reiterated an “outperform” rating and issued a $19.00 target price on shares of Westport Fuel Systems in a report on Wednesday, March 27th. Royal Bank of Canada cut their price target on shares of Westport Fuel Systems from $10.00 to $9.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 27th. Finally, TD Securities decreased their price objective on shares of Westport Fuel Systems from $8.00 to $7.50 and set a “market perform” rating for the company in a research note on Wednesday, March 27th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Westport Fuel Systems has a consensus rating of “Hold” and a consensus price target of $15.10.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. AE Wealth Management LLC raised its stake in Westport Fuel Systems by 25.0% in the 3rd quarter. AE Wealth Management LLC now owns 51,439 shares of the auto parts company’s stock valued at $312,000 after acquiring an additional 10,300 shares during the period. Trellus Management Company LLC raised its position in shares of Westport Fuel Systems by 32.1% in the third quarter. Trellus Management Company LLC now owns 83,238 shares of the auto parts company’s stock valued at $504,000 after purchasing an additional 20,238 shares during the period. Grace & White Inc. NY lifted its stake in shares of Westport Fuel Systems by 18.1% during the 3rd quarter. Grace & White Inc. NY now owns 399,876 shares of the auto parts company’s stock valued at $2,423,000 after buying an additional 61,199 shares in the last quarter. Finally, AMH Equity Ltd bought a new position in Westport Fuel Systems in the 3rd quarter worth approximately $991,000. Hedge funds and other institutional investors own 21.30% of the company’s stock.

Westport Fuel Systems Stock Performance

NASDAQ WPRT opened at $5.67 on Tuesday. The company has a market capitalization of $97.35 million, a PE ratio of -1.98 and a beta of 2.45. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.11 and a current ratio of 1.61. Westport Fuel Systems has a 52-week low of $4.90 and a 52-week high of $12.00. The company has a 50-day simple moving average of $6.08 and a 200 day simple moving average of $6.21.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last issued its quarterly earnings results on Monday, March 25th. The auto parts company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $87.20 million for the quarter, compared to analysts’ expectations of $82.00 million. On average, research analysts predict that Westport Fuel Systems will post -1.73 EPS for the current year.

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.