Westport Fuel Systems Inc. WPRT was a big mover last session, as the company saw its shares rise more than 13% on Friday. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $2.66 to $3.15 in the past one-month time frame.
The move came after the company signed a Memorandum of Understanding with Weichai Power Co., Ltd. This allows the development, marketing as well as commercialization of the Westport high pressure direct injection technology in China. Also, the company has signed a secured loan agreement worth $20 million with Export Development Canada.
The company has not seen any estimate revisions in the past one month, while the Zacks Consensus Estimate has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Westport currently has a Zacks Rank #3 (Hold), while its Earnings ESP is 0.00%.
A better-ranked stock in the Automotive – Original Equipment industry is Allison Transmission Holdings, Inc. ALSN, which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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