Westport Fuel Systems (NASDAQ:WPRT) Downgraded by Zacks Research to “Hold”

Zacks Research downgraded shares of Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) from a strong-buy rating to a hold rating in a report published on Monday morning,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Westport Fuel Systems in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $6.60.

Westport Fuel Systems Trading Up 2.0%

WPRT stock opened at $2.08 on Monday. The firm has a market cap of $36.15 million, a PE ratio of -0.59 and a beta of 2.12. The stock has a 50-day moving average price of $2.04 and a 200-day moving average price of $2.01. Westport Fuel Systems has a 1-year low of $1.54 and a 1-year high of $4.25.

Hedge Funds Weigh In On Westport Fuel Systems

Institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd bought a new position in shares of Westport Fuel Systems during the 4th quarter worth about $31,000. Goldman Sachs Group Inc. increased its position in Westport Fuel Systems by 23.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 38,753 shares of the auto parts company’s stock valued at $61,000 after buying an additional 7,401 shares in the last quarter. Royce & Associates LP bought a new stake in Westport Fuel Systems in the 4th quarter valued at about $357,000. Finally, Grace & White Inc. NY raised its stake in Westport Fuel Systems by 11.0% during the 4th quarter. Grace & White Inc. NY now owns 1,160,087 shares of the auto parts company’s stock worth $1,821,000 after buying an additional 114,787 shares during the period. Institutional investors and hedge funds own 21.30% of the company’s stock.

About Westport Fuel Systems

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.