Westport (WPRT) Set to Explode Upon Passage of Nat Gas Act - Cramer
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Amid natural gas slumping today following stockpile data from the Energy Information Administration, one play is standing out: Westport Innovations (Nasdaq: WPRT).
Jim Cramer made positive mention of Westport, calling it a solid play on natural gas should Congress pass its pending Natural Gas Act. Westport converts diesel engines (i.e. - those found in semi trailers) into ones that run on natural gas.
Benefiting Westport is that it's: A) basically first to the market, at least in terms of mass production, and B) high barriers of entry for competition because of the complex technology involved in the transformations.
Westport CEO David Demers, who spoke with Cramer, said that, although the Company has had some disappointments in the past, they have "a bright year coming." Demers is expecting 30 percent of growth.
One problem was delayed reimbursement from the government as many clients waited on doing deals. Currently, Westport has a backlog of 500 trucks, and Demers said that he has seen some interest from Detroit.
Cramer agreed, and said Westport is "building for the future." Once the Natural Gas Act is passed, Cramer expects shares to absolutely explode..."but they don't have approval yet."
Westport is trading about 4.2 percent stronger into the close.
Jim Cramer made positive mention of Westport, calling it a solid play on natural gas should Congress pass its pending Natural Gas Act. Westport converts diesel engines (i.e. - those found in semi trailers) into ones that run on natural gas.
Benefiting Westport is that it's: A) basically first to the market, at least in terms of mass production, and B) high barriers of entry for competition because of the complex technology involved in the transformations.
Westport CEO David Demers, who spoke with Cramer, said that, although the Company has had some disappointments in the past, they have "a bright year coming." Demers is expecting 30 percent of growth.
One problem was delayed reimbursement from the government as many clients waited on doing deals. Currently, Westport has a backlog of 500 trucks, and Demers said that he has seen some interest from Detroit.
Cramer agreed, and said Westport is "building for the future." Once the Natural Gas Act is passed, Cramer expects shares to absolutely explode..."but they don't have approval yet."
Westport is trading about 4.2 percent stronger into the close.
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