Oppenheimer Reaffirms Outperform Rating for Westport Fuel Systems (NASDAQ:WPRT)

Oppenheimer reiterated their outperform rating on shares of Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) in a research note published on Wednesday morning, Benzinga reports. Oppenheimer currently has a $19.00 target price on the auto parts company’s stock.

Westport Fuel Systems Price Performance

Shares of WPRT opened at $6.74 on Wednesday. Westport Fuel Systems has a twelve month low of $4.90 and a twelve month high of $12.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.14 and a current ratio of 1.61. The firm’s 50 day moving average price is $6.03 and its 200 day moving average price is $6.25. The firm has a market cap of $115.76 million, a PE ratio of -2.36 and a beta of 2.45.

Hedge Funds Weigh In On Westport Fuel Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AE Wealth Management LLC grew its holdings in Westport Fuel Systems by 25.0% during the third quarter. AE Wealth Management LLC now owns 51,439 shares of the auto parts company’s stock valued at $312,000 after purchasing an additional 10,300 shares during the last quarter. Trellus Management Company LLC grew its holdings in Westport Fuel Systems by 32.1% during the third quarter. Trellus Management Company LLC now owns 83,238 shares of the auto parts company’s stock valued at $504,000 after purchasing an additional 20,238 shares during the last quarter. Grace & White Inc. NY grew its holdings in Westport Fuel Systems by 18.1% during the third quarter. Grace & White Inc. NY now owns 399,876 shares of the auto parts company’s stock valued at $2,423,000 after purchasing an additional 61,199 shares during the last quarter. AMH Equity Ltd acquired a new position in Westport Fuel Systems during the third quarter valued at approximately $991,000. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in Westport Fuel Systems by 165.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 78,562 shares of the auto parts company’s stock valued at $75,000 after purchasing an additional 49,000 shares during the last quarter. Institutional investors and hedge funds 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, the Americas, Asia, Africa, and internationally. The company operates through Original Equipment Manufacturer and Independent Aftermarket segments.