Westport Fuel Systems Inc. [NASDAQ: WPRT] traded at a high on 06/09/21, posting a 2.03 gain after which it closed the day’ session at $6.02. The company report on June 8, 2021 that Westport Fuel Systems Announces Closing of Marketed Public Offering and Exercise of Over-Allotment Option.
Westport Fuel Systems Inc. (TSX | Nasdaq: WPRT) (“Westport Fuel Systems” or the “Company”), a global leader in alternative fuel, low-emissions transportation technologies, announced the closing of its previously-announced underwritten marketed public offering of common shares (“Common Shares”) in the United States and Canada for gross proceeds to the Company of US $115,115,000 (the “Offering”). The Company issued a total of 20,930,000 shares, including 2,730,000 shares following the exercise in full by the underwriters of their over-allotment option. The shares were issued at a price to the public of US $5.50 per share.
Westport Fuel Systems intends to use the net proceeds of the Offering primarily for capital expenditures to expand and automate production capacity of the Company’s high pressure direct injection (“HPDI”) products to meet customer demand, and to advance the research and development of the Company’s HPDI technology to decarbonize transportation economically and efficiently, including using hydrogen fuel. The remainder of the funds are to be allocated for potential acquisitions of bolt-on businesses that offer complementary capabilities or technologies to existing businesses, to further strengthen the balance sheet, as well as for general corporate purposes.
The results of the trading session contributed to over 7742125 shares changing hands. Over the past one week, the price volatility of Westport Fuel Systems Inc. stands at 7.01% while the volatility over the past one month is 7.06%.
The market cap for WPRT stock reached $890.04 million, with 147.85 million shares outstanding and 127.53 million shares in the current float. Compared to the average trading volume of 2.48M shares, WPRT reached a trading volume of 7742125 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Westport Fuel Systems Inc. [WPRT]?
Lake Street have made an estimate for Westport Fuel Systems Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 10, 2019. The new note on the price target was released on February 05, 2019, representing the official price target for Westport Fuel Systems Inc. stock. Previously, the target price had yet another raise to $6, while H.C. Wainwright analysts kept a Buy rating on WPRT stock.
The Average True Range (ATR) for Westport Fuel Systems Inc. is set at 0.45, with the Price to Sales ratio for WPRT stock in the period of the last 12 months amounting to 3.52. The Price to Book ratio for the last quarter was 8.34.
How has WPRT stock performed recently?
Westport Fuel Systems Inc. [WPRT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.38. With this latest performance, WPRT shares gained by 14.45% in over the last four-week period, additionally plugging by 46.47% over the last 6 months – not to mention a rise of 326.95% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WPRT stock in for the last two-week period is set at 50.10, with the RSI for the last a single of trading hit 53.09, and the three-weeks RSI is set at 48.09 for Westport Fuel Systems Inc. [WPRT]. The present Moving Average for the last 50 days of trading for this stock 6.26, while it was recorded at 5.73 for the last single week of trading, and 5.31 for the last 200 days.
Westport Fuel Systems Inc. [WPRT]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Westport Fuel Systems Inc. [WPRT] shares currently have an operating margin of -10.22 and a Gross Margin at +13.19. Westport Fuel Systems Inc.’s Net Margin is presently recorded at -2.91.
Return on Total Capital for WPRT is now -13.24, given the latest momentum, and Return on Invested Capital for the company is -4.63. Return on Equity for this stock declined to -7.95, with Return on Assets sitting at -2.45. When it comes to the capital structure of this company, Westport Fuel Systems Inc. [WPRT] has a Total Debt to Total Equity ratio set at 124.35. Additionally, WPRT Total Debt to Total Capital is recorded at 55.43, with Total Debt to Total Assets ending up at 37.37. Long-Term Debt to Equity for the company is recorded at 74.70, with the Long-Term Debt to Total Capital now at 33.29.
Reflecting on the efficiency of the workforce at the company, Westport Fuel Systems Inc. [WPRT] managed to generate an average of -$7,518 per employee. Receivables Turnover for the company is 3.35 with a Total Asset Turnover recorded at a value of 0.84.
Earnings analysis for Westport Fuel Systems Inc. [WPRT]
With the latest financial reports released by the company, Westport Fuel Systems Inc. posted 0.02/share EPS, while the average EPS was predicted by analysts to be reported at -0.07/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 128.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for WPRT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Westport Fuel Systems Inc. go to 30.00%.
Insider trade positions for Westport Fuel Systems Inc. [WPRT]
There are presently around $222 million, or 28.88% of WPRT stock, in the hands of institutional investors. The top three institutional holders of WPRT stocks are: LORD, ABBETT & CO. LLC with ownership of 6,566,401, which is approximately New of the company’s market cap and around 13.51% of the total institutional ownership; ROYCE & ASSOCIATES LP, holding 3,574,041 shares of the stock with an approximate value of $21.52 million in WPRT stocks shares; and BAIRD FINANCIAL GROUP, INC., currently with $19.13 million in WPRT stock with ownership of nearly 2253.6% of the company’s market capitalization.
Positions in Westport Fuel Systems Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 73 institutional holders increased their position in Westport Fuel Systems Inc. [NASDAQ:WPRT] by around 17,826,771 shares. Additionally, 40 investors decreased positions by around 11,953,326 shares, while 25 investors held positions by with 7,137,173 shares. The mentioned changes placed institutional holdings at 36,917,270 shares, according to the latest SEC report filing. WPRT stock had 46 new institutional investments in for a total of 11,772,798 shares, while 19 institutional investors sold positions of 6,212,668 shares during the same period.