In a report released yesterday, Amit Dayal from H.C. Wainwright maintained a Buy rating on Westport Fuel Systems (WPRT), with a price target of $5.00. The company’s shares closed last Tuesday at $1.74.
According to TipRanks.com, Dayal is a 5-star analyst with an average return of 16.0% and a 47.7% success rate. Dayal covers the Industrial Goods sector, focusing on stocks such as Ballard Power Systems, Orion Energy Systems, and Ceco Environmental.
Currently, the analyst consensus on Westport Fuel Systems is a Strong Buy with an average price target of $4.00.
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Based on Westport Fuel Systems’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $67.22 million and GAAP net loss of $15.29 million. In comparison, last year the company earned revenue of $82.42 million and had a GAAP net loss of $2.56 million.
Based on the recent corporate insider activity of 87 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of WPRT in relation to earlier this year.
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Westport Fuel Systems, Inc. engages in the engineering, manufacture, and supply of alternative fuel systems and components. It operates through the following segments: Transportation, Cummins Westport Inc. (CWI) Joint Venture, and Corporate. The Transportation segment designs, manufactures, and sells alternative fuel systems and components for transportation applications. The CWI Joint Venture segment serves the medium and heavy-duty on highway engine markets. The Corporate segment refers to the public company activities, corporate oversight, and general administrative duties. The company was founded on March 20, 1995 and is headquartered in Vancouver, Canada.
