HC Wainwright Weighs in on Westport Fuel Systems Inc.’s Q3 2024 Earnings (NASDAQ:WPRT)

Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) – Investment analysts at HC Wainwright cut their Q3 2024 earnings estimates for Westport Fuel Systems in a research report issued on Thursday, August 15th. HC Wainwright analyst A. Dayal now expects that the auto parts company will earn ($0.58) per share for the quarter, down from their prior forecast of ($0.53). HC Wainwright currently has a “Buy” rating and a $22.00 target price on the stock. The consensus estimate for Westport Fuel Systems’ current full-year earnings is ($2.23) per share. HC Wainwright also issued estimates for Westport Fuel Systems’ Q4 2024 earnings at ($0.39) EPS, FY2024 earnings at ($2.20) EPS, FY2025 earnings at ($1.04) EPS, FY2026 earnings at ($0.68) EPS and FY2027 earnings at ($0.26) EPS.

WPRT has been the topic of several other reports. Royal Bank of Canada decreased their price target on shares of Westport Fuel Systems from $9.00 to $8.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 15th. StockNews.com raised shares of Westport Fuel Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $14.13.

Westport Fuel Systems Trading Up 0.7 %

Westport Fuel Systems stock opened at $5.82 on Monday. Westport Fuel Systems has a one year low of $4.90 and a one year high of $7.86. The business’s fifty day moving average is $5.84 and its 200 day moving average is $5.93. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.84 and a quick ratio of 1.40. The stock has a market capitalization of $99.96 million, a PE ratio of -1.91 and a beta of 2.85.

Institutional Trading of Westport Fuel Systems

A number of large investors have recently added to or reduced their stakes in WPRT. Grace & White Inc. NY lifted its stake in shares of Westport Fuel Systems by 31.4% in the 4th quarter. Grace & White Inc. NY now owns 525,451 shares of the auto parts company’s stock valued at $3,478,000 after purchasing an additional 125,575 shares during the last quarter. AMH Equity Ltd raised its stake in shares of Westport Fuel Systems by 52.9% in the fourth quarter. AMH Equity Ltd now owns 250,000 shares of the auto parts company’s stock valued at $1,655,000 after acquiring an additional 86,460 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in shares of Westport Fuel Systems in the 2nd quarter worth about $67,000. Institutional investors own 21.30% of the company’s stock.

About Westport Fuel Systems

Westport Fuel Systems Inc engages in the engineering, manufacturing, and supplying alternative fuel systems and components for use in transportation applications in Europe, Asia, North America, South America, and internationally. The company operates through two segments, Original Equipment Manufacturers and Independent Aftermarket.