Westport Fuel Systems (NASDAQ:WPRT) Stock Passes Above 200 Day Moving Average – Time to Sell?

Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.07 and traded as high as $2.18. Westport Fuel Systems shares last traded at $2.07, with a volume of 72,983 shares.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Westport Fuel Systems in a research report on Wednesday, January 21st. Royal Bank Of Canada cut their price target on Westport Fuel Systems from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 12th. Finally, Zacks Research upgraded Westport Fuel Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $6.60.

Westport Fuel Systems Trading Up 3.5%

The company has a market cap of $35.98 million, a price-to-earnings ratio of -0.59 and a beta of 2.12. The firm’s fifty day moving average price is $1.97 and its 200-day moving average price is $2.07.

Institutional Investors Weigh In On Westport Fuel Systems

Several institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its position in Westport Fuel Systems by 23.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 38,753 shares of the auto parts company’s stock valued at $61,000 after purchasing an additional 7,401 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Westport Fuel Systems in the 4th quarter valued at about $31,000. Grace & White Inc. NY grew its holdings in shares of Westport Fuel Systems by 11.0% in the 4th quarter. Grace & White Inc. NY now owns 1,160,087 shares of the auto parts company’s stock valued at $1,821,000 after acquiring an additional 114,787 shares in the last quarter. Finally, Royce & Associates LP acquired a new stake in shares of Westport Fuel Systems in the fourth quarter valued at about $357,000. Institutional investors own 21.30% of the company’s stock.

Westport Fuel Systems Company Profile

Westport Fuel Systems Inc is a Canadian-based company that designs, engineers and manufactures alternative fuel systems and components for transportation and industrial applications. Specializing in natural gas, propane and hydrogen technologies, the company develops complete fuel delivery systems, high-pressure direct injection solutions and fuel storage modules tailored for light-, medium- and heavy-duty vehicles. Its platforms are designed to reduce emissions and lower operating costs for original equipment manufacturers (OEMs) and fleet operators worldwide.

The company’s product portfolio includes compressed natural gas (CNG) and liquefied natural gas (LNG) fuel systems, electronic controls, injectors, pressure regulators and specialized fuel tanks.