Westport Fuel Systems Inc. (NASDAQ:WPRT) is among the top losers of the stock market today, sinking -4.05% or (-0.1 points) to $2.37 from its previous close of $2.47. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 204100 contracts so far this session. WPRT shares had a relatively better volume day versus average trading capacity of 620.1 thousand shares, but with a 0.11 billion float and a -5.36% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for WPRT stock indicates that the average analyst price target is $4.4 per share. This means the stock has a potential increase of 85.65% from where the WPRT share price has been trading recently which is between $2.31 and $2.5. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $2.06.
The shorts are climbing into Westport Fuel Systems Inc. (WPRT) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in WPRT shares. While short interest still represents only 0.81% of WPRT’s float, the number of shares shorted have risen by 13802. The number of shares shorted advanced to 919706 shares, up from 905904 shares during the preceding fortnight. With average daily trading volumes at 230529 shares, days to cover increased to about 2.032579 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Advance Auto Parts’ (AAP) Q1 Earnings: Is a Beat in Store?” and dated May 20, 2019.
During the recent trading session for Westport Fuel Systems Inc. (NASDAQ:WPRT), the company witnessed their stock drop by $-0.3 over a week and surge $0.63 from the price 20 days ago. When compared to their established 52-week high of $3.77, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 08/29/18. The recent low of $1.17 stood for a -37.14% since 02/07/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Westport Fuel Systems Inc., the two-week RSI stands at 60.6. This figure suggests that WPRT stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current WPRT readings is similarly very revealing as it has a stochastic reading of 73.02% at this stage. This figure means that WPRT share price today is being oversold.
Technical chart claims that Westport Fuel Systems Inc. (WPRT) would settle between $2.54/share to $2.62/share level. However, if the stock price goes below the $2.35 mark, then the market for Westport Fuel Systems Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $2.24 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.04. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Lake Street raised their recommendation on shares of WPRT from Hold to Buy in their opinion released on May 10. Lake Street analysts have lowered their rating of Westport Fuel Systems Inc. (NASDAQ:WPRT) stock from Buy to Hold in a separate flash note issued to investors on February 05. Analysts at H.C. Wainwright, made their first call for the equity with a Buy recommendation, according to a research note that dated back to September 20.
WPRT equity has an average rating of 2.5, with the figure leaning towards a bullish end. 4 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 2 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 2 analysts rated Westport Fuel Systems Inc. (NASDAQ:WPRT) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, WPRT stock price is currently trading at 22.45X forward 12-month Consensus EPS estimates, and its P/S ratio is 1.68 while for the average stock in the same group, the multiple is 1.52.
Westport Fuel Systems Inc. (WPRT)’s current-quarter revenues are projected to climb by nearly -11.38% to hit $71.33 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 4.87% from $274110 to a noteworthy $287470. At the other end of the current quarter income statement, Westport Fuel Systems Inc. is expected to see its adjusted earnings surge by roughly 50% to hit $-0.02 per share. For the fiscal year, WPRT’s earnings are projected to climb by roughly 70.97% to hit $-0.09 per share.