Worksport’s (WKSP) Buy Rating Reaffirmed at HC Wainwright

Worksport (NASDAQ:WKSP)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a report released on Monday,Benzinga reports. They presently have a $11.50 target price on the stock. HC Wainwright’s price objective would suggest a potential upside of 268.59% from the stock’s current price.

Separately, Wall Street Zen downgraded shares of Worksport from a “hold” rating to a “sell” rating in a research report on Saturday, September 13th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $14.00.

Worksport Trading Up 1.0%

Worksport stock opened at $3.12 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.27 and a quick ratio of 0.70. The company has a market capitalization of $20.72 million, a price-to-earnings ratio of -0.47 and a beta of 0.69. Worksport has a one year low of $2.44 and a one year high of $12.00. The company’s fifty day moving average price is $3.35 and its two-hundred day moving average price is $3.25.

Worksport (NASDAQ:WKSP) last posted its earnings results on Wednesday, August 13th. The company reported ($0.71) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.05. The firm had revenue of $4.11 million for the quarter, compared to the consensus estimate of $3.61 million. Worksport had a negative net margin of 134.19% and a negative return on equity of 93.40%. On average, analysts forecast that Worksport will post -0.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Worksport

Hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC bought a new stake in shares of Worksport in the fourth quarter valued at about $79,000. Two Sigma Investments LP bought a new position in Worksport during the fourth quarter worth about $145,000. Two Sigma Advisers LP bought a new position in Worksport during the fourth quarter worth about $29,000. Northern Trust Corp lifted its stake in Worksport by 136.1% during the fourth quarter. Northern Trust Corp now owns 39,612 shares of the company’s stock worth $36,000 after purchasing an additional 22,832 shares during the period. Finally, Armistice Capital LLC bought a new position in Worksport during the first quarter worth about $1,150,000. Institutional investors own 16.11% of the company’s stock.

Worksport Company Profile

Worksport Ltd., through its subsidiary, designs and distributes truck tonneau covers in Canada and the United States. The company offers soft tonneau covers, such as vinyl wrapped tri- and quad-fold tonneau covers; and hard tonneau covers, including tri- and quad-fold aluminum covers. It also offers energy products, such as Worksport SOLIS, a tonneau cover with integrated solar panels; and Worksport COR energy storage system, a modular, portable power station.