Westport Fuel Systems (NASDAQ:WPRT) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $4.53 and traded as high as $4.54. Westport Fuel Systems shares last traded at $4.39, with a volume of 25,380 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $8.00 price objective on shares of Westport Fuel Systems in a research note on Thursday, November 14th. HC Wainwright reiterated a “buy” rating and set a $22.00 price target on shares of Westport Fuel Systems in a research report on Friday, November 15th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.13.

Westport Fuel Systems Stock Performance

The firm has a market cap of $75.77 million, a price-to-earnings ratio of -2.95 and a beta of 2.93. The stock’s fifty day moving average is $4.04 and its two-hundred day moving average is $4.53. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.00 and a current ratio of 1.60.

Institutional Investors Weigh In On Westport Fuel Systems

Several large investors have recently made changes to their positions in WPRT. Grace & White Inc. NY boosted its position in shares of Westport Fuel Systems by 40.3% during the fourth quarter. Grace & White Inc. NY now owns 1,043,980 shares of the auto parts company’s stock worth $3,737,000 after buying an additional 299,798 shares during the period. Baird Financial Group Inc. raised its stake in Westport Fuel Systems by 34.6% during the 4th quarter. Baird Financial Group Inc. now owns 916,168 shares of the auto parts company’s stock valued at $3,280,000 after acquiring an additional 235,610 shares in the last quarter. US Bancorp DE boosted its position in Westport Fuel Systems by 170.7% during the 3rd quarter. US Bancorp DE now owns 188,349 shares of the auto parts company’s stock worth $865,000 after acquiring an additional 118,780 shares during the period. Millennium Management LLC bought a new position in shares of Westport Fuel Systems in the fourth quarter worth $149,000. Finally, TD Waterhouse Canada Inc. increased its holdings in shares of Westport Fuel Systems by 2,384.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 16,374 shares of the auto parts company’s stock valued at $57,000 after purchasing an additional 15,715 shares during the period. Institutional investors and hedge funds 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, Asia, North America, South America, and internationally. The company operates through two segments, Original Equipment Manufacturers and Independent Aftermarket.