Worksport Ltd. (NASDAQ:WKSP – Get Free Report) CEO Steven Rossi purchased 79,618 shares of Worksport stock in a transaction dated Friday, June 5th. The stock was bought at an average cost of $0.63 per share, for a total transaction of $50,159.34. Following the completion of the purchase, the chief executive officer directly owned 2,693,703 shares in the company, valued at approximately $1,697,032.89. This trade represents a 3.05% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Worksport Price Performance
Worksport stock opened at $0.66 on Friday. The company’s 50 day simple moving average is $0.92 and its 200-day simple moving average is $1.57. The company has a market capitalization of $8.25 million, a price-to-earnings ratio of -0.24 and a beta of 0.27. Worksport Ltd. has a 1 year low of $0.61 and a 1 year high of $4.90. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.27 and a current ratio of 1.95.
Worksport (NASDAQ:WKSP – Get Free Report) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.03). The company had revenue of $3.31 million during the quarter, compared to analysts’ expectations of $5.33 million. Worksport had a negative net margin of 120.65% and a negative return on equity of 103.67%. As a group, equities research analysts expect that Worksport Ltd. will post -1.15 earnings per share for the current year.
Institutional Investors Weigh In On Worksport
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Worksport from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Maxim Group set a $2.00 price target on shares of Worksport and gave the company a “buy” rating in a research note on Friday, May 15th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Worksport in a research note on Friday, April 10th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Worksport has an average rating of “Hold” and an average price target of $6.75.
View Our Latest Analysis on Worksport
About Worksport
Worksport Ltd. is an Israeli-based designer, developer and global supplier of innovative automotive accessories, with a primary focus on pickup truck bed covers. The company’s core offerings include a range of hard and soft tonneau covers under brands such as ROLL, FLEXIT and SOLAR, engineered to provide truck owners with enhanced utility, security and weather protection. Worksport leverages advanced polymer materials and patented folding mechanisms to deliver lightweight, durable solutions that are easy to install and operate.
In recent years, Worksport has expanded its product portfolio to incorporate solar technology, introducing integrated solar tonneau covers capable of generating power for auxiliary truck systems or charging batteries for recreational and off-grid applications.
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