Westport Fuel Systems (NASDAQ:WPRT) Downgraded by BidaskClub

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Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Thursday, BidAskClub reports.

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

Shares of WPRT stock opened at $2.64 on Thursday. Westport Fuel Systems has a fifty-two week low of $1.17 and a fifty-two week high of $3.39. The stock has a market cap of $378.80 million, a P/E ratio of -8.52 and a beta of 1.81. The business has a fifty day simple moving average of $2.65 and a 200-day simple moving average of $2.65. The company has a quick ratio of 1.03, a current ratio of 1.47 and a debt-to-equity ratio of 0.56.

Several hedge funds have recently made changes to their positions in the company. Stonehearth Capital Management LLC acquired a new position in Westport Fuel Systems in the second quarter valued at approximately $28,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Westport Fuel Systems by 15.6% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 632,885 shares of the auto parts company’s stock valued at $1,719,000 after purchasing an additional 85,200 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Westport Fuel Systems in the second quarter valued at approximately $26,000. Paradigm Capital Management Inc. NY boosted its holdings in Westport Fuel Systems by 0.4% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,168,700 shares of the auto parts company’s stock valued at $3,167,000 after purchasing an additional 4,500 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Westport Fuel Systems by 18.7% in the second quarter. Renaissance Technologies LLC now owns 1,622,320 shares of the auto parts company’s stock valued at $4,396,000 after purchasing an additional 255,900 shares in the last quarter. Institutional investors and hedge funds own 21.36% of the company’s stock.

Westport Fuel Systems Company Profile

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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