Westport Fuel Systems (NASDAQ:WPRT) Downgraded to Sell at BidaskClub

BidaskClub lowered shares of Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) from a hold rating to a sell rating in a research report report published on Thursday, BidAskClub reports.

WPRT has been the topic of several other research reports. ValuEngine lowered shares of Westport Fuel Systems from a buy rating to a hold rating in a research report on Friday, September 20th. Zacks Investment Research raised shares of Westport Fuel Systems from a sell rating to a hold rating and set a $3.00 price target on the stock in a research report on Monday, October 14th. Finally, Cowen set a $4.00 price target on shares of Westport Fuel Systems and gave the company a hold rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of Hold and an average target price of $4.50.

Shares of NASDAQ:WPRT traded up $0.05 during midday trading on Thursday, hitting $2.74. 215,200 shares of the company’s stock were exchanged, compared to its average volume of 559,623. The stock has a 50 day moving average price of $2.66 and a 200-day moving average price of $2.66. Westport Fuel Systems has a 12 month low of $1.17 and a 12 month high of $3.39. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.47 and a quick ratio of 1.03. The company has a market cap of $358.80 million, a PE ratio of -8.84 and a beta of 1.81.

A number of institutional investors have recently bought and sold shares of the stock. Pembroke Management LTD increased its holdings in Westport Fuel Systems by 11.1% during the 3rd quarter. Pembroke Management LTD now owns 6,286,200 shares of the auto parts company’s stock worth $22,505,000 after acquiring an additional 628,250 shares during the period. Renaissance Technologies LLC increased its holdings in Westport Fuel Systems by 18.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,622,320 shares of the auto parts company’s stock worth $4,396,000 after acquiring an additional 255,900 shares during the period. Paradigm Capital Management Inc. NY increased its holdings in Westport Fuel Systems by 0.4% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,168,700 shares of the auto parts company’s stock worth $3,167,000 after acquiring an additional 4,500 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Westport Fuel Systems by 15.6% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 632,885 shares of the auto parts company’s stock worth $1,719,000 after acquiring an additional 85,200 shares during the period. Finally, D. E. Shaw & Co. Inc. increased its holdings in Westport Fuel Systems by 237.6% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 537,803 shares of the auto parts company’s stock worth $1,457,000 after acquiring an additional 378,487 shares during the period. 21.36% of the stock is currently owned by institutional investors and hedge funds.

About Westport Fuel Systems

Westport Fuel Systems Inc engineers, manufactures, and supplies alternative fuel systems and components for the transportation application worldwide. It operates through Transportation and Cummins Westport Inc (CWI) Joint Venture segments. The company offers fuel systems and components a range of alternative fuels, such as liquefied petroleum gas, compressed natural gas, liquefied natural gas, renewable natural gas, and hydrogen; and independent aftermarket, original equipment manufacturers (OEMs) and delayed OEMs, electronics, current and advanced research and development programs, supply chain, and product planning activities.

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