Westport Fuel Systems Inc. (NASDAQ:WPRT) Sees Significant Decrease in Short Interest

Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) saw a large decline in short interest in 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. Based on an average daily trading volume, of 53,300 shares, the days-to-cover ratio is currently 7.9 days. Currently, 2.8% of the company’s shares are sold short.

Hedge Funds Weigh In On Westport Fuel Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. AE Wealth Management LLC grew its position in shares of Westport Fuel Systems by 25.0% during the third quarter. AE Wealth Management LLC now owns 51,439 shares of the auto parts company’s stock worth $312,000 after buying an additional 10,300 shares in the last quarter. Trellus Management Company LLC grew its holdings in Westport Fuel Systems by 32.1% during the 3rd quarter. Trellus Management Company LLC now owns 83,238 shares of the auto parts company’s stock worth $504,000 after acquiring an additional 20,238 shares in the last quarter. AMH Equity Ltd bought a new stake in shares of Westport Fuel Systems in the 3rd quarter worth about $991,000. Finally, Grace & White Inc. NY increased its position in shares of Westport Fuel Systems by 18.1% in the 3rd quarter. Grace & White Inc. NY now owns 399,876 shares of the auto parts company’s stock worth $2,423,000 after purchasing an additional 61,199 shares during the last quarter. 21.30% of the stock is owned by hedge funds and other institutional investors.

Westport Fuel Systems Stock Performance

Shares of NASDAQ:WPRT opened at $5.48 on Wednesday. The business’s 50-day simple moving average is $6.08 and its 200 day simple moving average is $6.21. The company has a market cap of $94.09 million, a P/E ratio of -1.92 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 one year low of $4.90 and a one year high of $12.00.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last issued its quarterly earnings data 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 net margin of 14.97% and a negative return on equity of 26.18%. The firm had revenue of $87.20 million during the quarter, compared to analyst estimates of $82.00 million. On average, sell-side analysts forecast that Westport Fuel Systems will post -1.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WPRT. 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 research note on Wednesday, March 27th. TD Securities reduced their target price on Westport Fuel Systems from $8.00 to $7.50 and set a “market perform” rating on the stock in a report on Wednesday, March 27th. HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Westport Fuel Systems in a research note on Wednesday, March 27th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $19.00 price objective on shares of Westport Fuel Systems in a research note on Wednesday, March 27th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock 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.