Westport Fuel Systems Inc. (NASDAQ:WPRT) enjoyed a 313.41% run-up in share price since hitting record low of $0.82. The stock managed 13% rise and now stands at $3.39 as of 11/15/2017. At recent session, the prices were hovering between $3.0608 and $3.54. This company shares are -4.13% up from its target price of $3.25 and the current market capitalization stands at $0. The recent change has given its price a 4.59% lead over SMA 50 and -17.11% deficit over its 52-week high. The stock witnessed 2.73% gains, 47.39% gains and 133.79% gains for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found WPRT’s volatility during a week at 8.77% and during a month it has been found around 7.37%.Westport Fuel Systems Inc. 13F Filings
At the end of 09/30/2017 reporting period, 28 institutional holders increased their position in Westport Fuel Systems Inc. (NASDAQ:WPRT) by some 9,870,693 shares, 32 decreased positions by 1,367,273 and 36 held positions by 9,868,229. That puts total institutional holdings at 21,106,195 shares, according to SEC filings. The stock grabbed 17 new institutional investments totaling 9,063,621 shares while 11 institutional investors sold out their entire positions totaling 767,430 shares.
Several analysts have released their opinion on Westport Fuel Systems Inc. (NASDAQ:WPRT), with 3 analysts believing it is a strong buy. Whereas 2 of them predict the stock is a hold. Also, there are 0 buy, 0 sell and 0 strong sell ratings, collectively assigning a 1.8 average brokerage recommendation.
The rally came after the company reported financial results for the third quarter ended September 30, 2017, and provided an update on operations. Consolidated revenues for the quarter ended September 30, 2017, were $60.8 million compared with $56.1 million for the same period last year. The higher revenues were driven by the increase in the Euro compared to the US dollar, as well as strong sales in the aftermarket business. Net loss from continuing operations for the quarter ended September 30, 2017, was $15.7 million or a loss of $0.12 per share, compared with net loss of $33.6 million or $0.31 per share in the same period last year. This improvement is driven by higher gross margin, lower operating expenses, and higher CWI income compared to the same period last year.
“We continue to execute on our plan to strengthen our balance sheet, drive operational efficiencies, and advance the commercialization of Westport HPDI 2.0,” said Nancy Gougarty, Chief Executive Officer of Westport Fuel Systems. “This is the first comparable quarter on a year-over-year basis since the merger and we see improved results across the board. The actions taken and implemented a year ago to achieve merger synergies are being realized. Q3 was a strong quarter with a 54% improvement in adjusted EBITDA compared to Q3 2016. Our Automotive business is delivering improved adjusted EBITDA; Cummins Westport is seeing strong customer demand and delivering higher income contributions; and our technology portfolio is market ready with products that deliver solutions to customers today. We have made significant progress and will remain focused on delivering our commitment towards becoming a profitable and sustainable company.”