Westport (WPRT) Stock Jumps 8.6%: Will It Continue to Soar?

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Westport Innovations (WPRT) shares rallied 8.6% in the last trading session to close at $9.08. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.2% gain over the past four weeks.

Westport’s ability to address the demand for cleaner technologies, and its commitment to providing sustainable solutions are likely to have sparked investors’ enthusiasm. Additionally, the company’s strong technology and innovation capabilities, along with its established distribution channels are positive indicators for its future success.

This maker of natural-gas engine technology is expected to post quarterly loss of $0.59 per share in its upcoming report, which represents a year-over-year change of +15.7%. Revenues are expected to be $85.45 million, up 6.9% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Westport, the consensus EPS estimate for the quarter has been revised 0.8% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on WPRT going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Westport is part of the Zacks Automotive - Original Equipment industry. ChargePoint Holdings, Inc. (CHPT), another stock in the same industry, closed the last trading session 1.6% lower at $8.85. CHPT has returned -0.7% in the past month.

ChargePoint Holdings, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.12. Compared to the company's year-ago EPS, this represents a change of +36.8%. ChargePoint Holdings, Inc. currently boasts a Zacks Rank of #3 (Hold).

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