Rodman & Renshaw Initiates Coverage on Westport Innovations (USA) to Buy

Rodman & Renshaw Initiates Coverage on Westport Innovations (USA)(NASDAQ:WPRT). The shares have been rated Buy. The rating by Rodman & Renshaw was issued on Jun 20, 2016.

Westport Innovations (USA) (WPRT) shares turned negative on Fridays trading session with the shares closing down -0.125 points or -7.46% at a volume of 12,43,106. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $1.653. The peak price level was also seen at $1.653 while the days lowest was $1.53. Finally the shares closed at $1.55. The 52-week high of the shares is $5.29 while the 52-week low is $1.3. According to the latest information available, the market cap of the company is $100 M.

Westport Innovations (USA)(WPRT) last announced its earnings results on May 12, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $24.01M. Analysts had an estimated revenue of $28.10M. Earnings per share were $-0.36. Analysts had estimated an EPS of $-0.28.

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 Company’s 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.

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