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

Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) was the recipient of a significant decline in short interest in 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. Based on an average daily volume of 53,300 shares, the short-interest ratio is currently 7.9 days. Approximately 2.8% of the company’s stock are short sold.

Westport Fuel Systems Stock Performance

WPRT opened at $5.48 on Wednesday. The stock has a 50-day moving average of $6.08 and a 200-day moving average of $6.21. 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 market cap of $94.09 million, a PE ratio of -1.92 and a beta of 2.45.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last announced its quarterly earnings results on Monday, March 25th. The auto parts company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.19). Westport Fuel Systems had a negative net margin of 14.97% and a negative return on equity of 26.18%. The company had revenue of $87.20 million for the quarter, compared to analyst estimates of $82.00 million. As a group, equities research analysts forecast that Westport Fuel Systems will post -1.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Grace & White Inc. NY boosted its position in shares of Westport Fuel Systems by 13.2% in the first quarter. Grace & White Inc. NY now owns 594,582 shares of the auto parts company’s stock valued at $4,007,000 after acquiring an additional 69,131 shares during the period. AMH Equity Ltd raised its stake in Westport Fuel Systems by 52.9% during the 4th quarter. AMH Equity Ltd now owns 250,000 shares of the auto parts company’s stock valued at $1,655,000 after purchasing an additional 86,460 shares during the last quarter. Trellus Management Company LLC boosted its holdings in Westport Fuel Systems by 32.1% in the 3rd 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. Finally, AE Wealth Management LLC grew its position 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 worth $312,000 after purchasing an additional 10,300 shares during the last quarter. Institutional investors own 21.30% of the company’s stock.

Wall Street Analyst Weigh In

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

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.