Westport Fuel Systems (NASDAQ:WPRT) Cut to “Hold” at Zacks Research

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

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Westport Fuel Systems in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.60.

Westport Fuel Systems Trading Up 2.0%

WPRT stock opened at $2.08 on Monday. The firm has a 50 day simple moving average of $2.04 and a 200-day simple moving average of $2.01. The company has a market capitalization of $36.15 million, a P/E ratio of -0.59 and a beta of 2.12. Westport Fuel Systems has a twelve month low of $1.54 and a twelve month high of $4.25.

Institutional Trading of Westport Fuel Systems

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