Westport Fuel Systems (NASDAQ:WPRT) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) in a report issued on Wednesday morning, Benzinga reports. They currently have a $30.00 price objective on the auto parts company’s stock.

Separately, Oppenheimer reiterated an outperform rating and set a $19.00 target price on shares of Westport Fuel Systems in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $15.10.

Westport Fuel Systems Stock Performance

Shares of WPRT stock opened at $6.80 on Wednesday. The company has a current ratio of 1.72, a quick ratio of 1.14 and a debt-to-equity ratio of 0.14. The firm has a fifty day moving average price of $6.00 and a 200 day moving average price of $6.24. The company has a market cap of $116.76 million, a P/E ratio of -2.38 and a beta of 2.45. Westport Fuel Systems has a 12 month low of $4.90 and a 12 month high of $12.00.

Hedge Funds Weigh In On Westport Fuel Systems

Institutional investors and hedge funds have recently modified their holdings of the company. Captrust Financial Advisors lifted its position 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 acquiring an additional 18,076 shares during the last quarter. Advisor Group Holdings Inc. lifted its position in Westport Fuel Systems by 70.8% in the first quarter. Advisor Group Holdings Inc. now owns 21,226 shares of the auto parts company’s stock valued at $34,000 after acquiring an additional 8,800 shares during the last quarter. Two Sigma Investments LP purchased a new stake in Westport Fuel Systems in the fourth quarter valued at $45,000. Cibc World Market Inc. purchased a new stake in Westport Fuel Systems in the first quarter valued at $51,000. Finally, Envestnet Asset Management Inc. lifted its position in Westport Fuel Systems by 251.1% in the first quarter. Envestnet Asset Management Inc. now owns 35,111 shares of the auto parts company’s stock valued at $55,000 after acquiring an additional 25,111 shares during the last quarter. Institutional investors and hedge funds own 21.30% of the company’s stock.

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, the Americas, Asia, Africa, and internationally. The company operates through Original Equipment Manufacturer and Independent Aftermarket segments.