Westport Innovations Inc (WPRT) : Traders are bullish on Westport Innovations Inc (WPRT) as it has outperformed the S&P 500 by a wide margin of 6.9% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 7.94%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 8% in the last 1 week, and is up 8% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 12.11% and the 50-Day Moving Average is 0.46%. Westport Innovations Inc (NASDAQ:WPRT): On Fridays trading session , Opening price of the stock was $1.67 with an intraday high of $1.69. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $1.62. However, the stock managed to close at $1.62, a loss of 2.99% for the day. On the previous day, the stock had closed at $1.67. The total traded volume of the day was 559,743 shares.
Institutional Investors own 17.29% of Westport Innovations Inc shares. Also, Rodman & Renshaw initiates coverage on Westport Innovations Inc (NASDAQ:WPRT) In a research note issued to the investors, the brokerage major announces price-target of $5 per share.The shares have been rated Buy. The rating by the firm was issued on June 20, 2016.
Westport Innovations Inc. is a provider of engine and fuel system technologies utilizing gaseous fuels. The Company operates through six segments: Westport Applied Technologies Business Unit, Westport On-Road Systems Business Unit, Westport Off-Road Systems Business Unit, Corporate and Technology Investments Business Unit, Cummins Westport Inc and Weichai Westport Inc. Westport Applied Technologies Business Unit designs, produces, and sells compressed natural gas and liquefied petroleum gas components and subsystems for natural gas vehicles. Westport On-Road Systems Business Unit engineers, designs, assemble and sell natural gas engine and vehicle systems. Westport Off-Road Systems Business Unit engineers, designs, and markets the Companys natural gas technologies. Cummins Westport serves the medium- to heavy-duty engine markets with spark ignited natural gas engines. Weichai Westport develops, manufactures, and sells advanced, alternative fuel engines and parts.