Investors Purchase Large Volume of Call Options on Westport Fuel Systems (NASDAQ:WPRT)

Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) saw unusually large options trading activity on Wednesday. Stock traders purchased 2,030 call options on the stock. This is an increase of 1,310% compared to the typical daily volume of 144 call options.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on WPRT shares. Royal Bank Of Canada reduced their price objective on shares of 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. Zacks Research raised Westport Fuel Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Westport Fuel Systems in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.60.

Westport Fuel Systems Stock Up 4.3%

Shares of NASDAQ WPRT traded up $0.08 during midday trading on Wednesday, hitting $1.95. The stock had a trading volume of 59,414 shares, compared to its average volume of 89,082. The company has a fifty day moving average price of $1.85 and a 200 day moving average price of $2.31. The company has a market capitalization of $33.89 million, a price-to-earnings ratio of -0.56 and a beta of 2.18. Westport Fuel Systems has a 1-year low of $1.54 and a 1-year high of $4.77.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last released its quarterly earnings data on Monday, November 10th. The auto parts company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $0.29. Westport Fuel Systems had a negative net margin of 25.63% and a negative return on equity of 24.16%. The company had revenue of $1.62 million during the quarter, compared to the consensus estimate of $1.12 million. On average, research analysts forecast that Westport Fuel Systems will post -1.69 EPS for the current year.

Hedge Funds Weigh In On Westport Fuel Systems

A hedge fund recently raised its stake in Westport Fuel Systems stock. Grace & White Inc. NY grew its position in shares of Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) by 11.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,160,087 shares of the auto parts company’s stock after purchasing an additional 114,787 shares during the period. Grace & White Inc. NY owned approximately 6.68% of Westport Fuel Systems worth $1,821,000 as of its most recent SEC filing. Hedge funds and other institutional investors 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.