Why Westport Fuel Systems Inc's Shares Popped 16% Today
Shares of natural gas engine technology company Westport Fuel Systems Inc (NASDAQ: WPRT) jumped as much as 15.7% in trading Friday after the company announced a new loan and business agreement. At 11:10 a.m. EST, shares were still up 14% for the day.
The biggest announcement was a $20 million secured term loan agreement with Export Development Canada. The loan will carry an interest rate of 9% plus fees, which is extremely high in today's low-interest-rate environment, but the rate could fall to 6% if the company meets certain undisclosed milestones.
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Source: Fool.com
Westport Innovations Inc. Stock
€0.66
2.640%
Our community is currently high on Westport Innovations Inc. with 3 Buy predictions and 1 Sell predictions.
Based on the current price of 0.66 € the target price of 17 € shows a potential of 2487.52% for Westport Innovations Inc. which would more than double the current price.
