The stock is trading at $3.46 which is slightly above $3.27, the stock’s 50 day moving average and much higher than the 200 day moving average of $2.21. The 50 day moving average was up $0.19 or +5.71% whereas the 200 day average was up by +56.59%. 894K shares changed hands by the end of trading on Tuesday. Overall, volume was down 42.11% under the stocks normal daily volume.
Traders are feeling more bearish on shares of the company recently if you watch the rise in short interest. The stock saw a rise in short interest of 24.75% as of October 13, 2017 from the last reporting period. Short interest increased 622,317 over that period. Days to cover decreased from 2.0 to 2.0 and the percentage of shorted shares was 0.02% on October 13.
A few notable investment firms have updated their holdings. As of the end of the quarter Nwam LLC had sold 1,700 shares trimming its holdings by 7.8%. The value of the total investment in Westport Fuel Systems Inc went from $21,000 to $47,000 a change of 123.8% for the reporting period. As of quarter end Cutler Group LP had acquired a total of 100 shares growing its stake by 20.0%. The value of the company’s investment in Westport Fuel Systems Inc decreased from $1,000 to $1,000 a change of $0 quarter over quarter.
As of quarter end Raymond James Financial Services Advisors, Inc. had disposed of 800 shares trimming its position 3.6%. The value of the investment in WPRT went from $52,000 to $69,000 increasing 32.7% since the last quarter. As of the end of the quarter Simplex Trading, LLC had disposed of 6,952 shares trimming its stake by 96.2%. The value in dollars went from $16,000 to $0 a change of $16,000 quarter to quarter.
On August 17 analysts at Oppenheimer began coverage with an initial rating of “Outperform”.
In the last earnings report the EPS was $-0.52 and is projected to be $-0.49 for the current year with 130,401,000 shares currently outstanding. Analysts expect next quarter’s EPS to be $-0.12 with next year’s EPS anticipated to be $-0.19.
Westport Fuel Systems Inc. provides low-emission engine and fuel system technologies utilizing gaseous fuels. The company’s technology and products enable light, medium, heavy-duty, and high horsepower petroleum-based fuel engines and vehicles to use primarily natural gas and alternative fuels. It designs, manufactures, and sells compressed natural gas, liquefied petroleum gas, and liquefied natural gas (LNG) components and systems to original equipment manufacturers and aftermarket customers. The company also designs and manufactures a range of components, such as pressure regulators, injectors, electronic control units, valves, and filters; sells monofuel, bi-fuel, and dual-fuel diesel blend conversion kits; and offers engine management systems and solutions. In addition, it provides natural gas and propane vehicle conversions through the Ford’s qualified vehicle modifier program for Ford vehicles comprising transit, cargo shuttle, and taxi vehicles; and aftermarket conversion products, alternative fuel systems, and application engineering services. Further, the company offers Volvo car bi-fuel systems; Westport JumpStart mobile fuel services; tank systems for spark-ignited engines; LNG tender products for the rail market; and industrial engines for forklift and oilfield applications. Additionally, it provides engines for use in transit, school and shuttle buses, conventional trucks and tractors, and refuse collection trucks, as well as specialty vehicles, such as short-haul port drayage trucks and street sweepers; and develops, manufactures, and sells alternative fuel engines and parts that are used in city bus, coach, and heavy-duty truck applications. The company was formerly known as Westport Innovations Inc. and changed its name to Westport Fuel Systems Inc. in June 2016. The company was founded in 1995 and is headquartered in Vancouver, Canada..