Westport Fuel Systems Inc (WPRT)

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Westport Fuel Systems Target of Unusually High Options Trading (NASDAQ:WPRT).

source
https://www.americanbankingnews.com/2021/08/06/westport-fuel-systems-target-of-unusually-high-options-trading-nasdaqwprt.html

Aug 6th, 2021

Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) was the target of some unusual options trading on Friday. Stock traders purchased 12,113 call options on the company. This represents an increase of 605% compared to the average volume of 1,718 call options.

WPRT stock traded up $1.13 during trading on Friday, hitting $5.04. The company had a trading volume of 696,496 shares, compared to its average volume of 2,914,799. The firm’s fifty day moving average is $4.94. The company has a current ratio of 1.66, a quick ratio of 1.22 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $781.35 million, a P/E ratio of 125.78 and a beta of 2.22. Westport Fuel Systems has a fifty-two week low of $1.46 and a fifty-two week high of $12.95.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last posted its quarterly earnings data on Thursday, May 6th. The auto parts company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The business had revenue of $76.40 million during the quarter, compared to analyst estimates of $73.20 million. Westport Fuel Systems had a return on equity of 5.08% and a net margin of 1.83%. Westport Fuel Systems’s quarterly revenue was up 13.7% compared to the same quarter last year.

Institutional investors have recently made changes to their positions in the business. Lord Abbett & CO. LLC acquired a new stake in shares of Westport Fuel Systems in the first quarter valued at approximately $47,212,000. Baird Financial Group Inc. increased its stake in shares of Westport Fuel Systems by 2,253.6% in the 1st quarter. Baird Financial Group Inc. now owns 3,177,360 shares of the auto parts company’s stock valued at $22,845,000 after purchasing an additional 3,042,360 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Westport Fuel Systems in the 2nd quarter valued at $9,583,000. Voloridge Investment Management LLC increased its stake in shares of Westport Fuel Systems by 266.0% in the 1st quarter. Voloridge Investment Management LLC now owns 814,544 shares of the auto parts company’s stock valued at $5,857,000 after purchasing an additional 591,975 shares during the last quarter. Finally, DAVENPORT & Co LLC bought a new position in shares of Westport Fuel Systems in the 1st quarter valued at $4,154,000. Institutional investors own 23.80% of the company’s stock.

About Westport Fuel Systems
Westport Fuel Systems Inc engineers, manufactures, and supplies alternative fuel systems and components for use in transportation applications worldwide. It operates through Original Equipment Manufacturer, Independent Aftermarket, and Cummins Westport Inc (CWI) Joint Venture segments. The company offers alternative fuel systems and components, which include a range of alternative fuels, such as liquefied petroleum gas, compressed natural gas, liquefied natural gas, renewable natural gas, and hydrogen; and independent aftermarket, original equipment manufacturers (OEMs) and delayed OEMs, electronics, current and advanced research and development programs, supply chain, and product planning activities.