HC Wainwright Issues Positive Forecast for Worksport (NASDAQ:WKSP) Stock Price

Worksport (NASDAQ:WKSP) had its price objective upped by HC Wainwright from $1.50 to $11.50 in a report released on Friday, Marketbeat.com reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the company. Industrial Alliance Securities set a $17.50 price objective on Worksport in a research note on Monday, March 3rd. Alliance Global Partners reiterated a “buy” rating on shares of Worksport in a research note on Tuesday, March 18th.

Worksport Stock Performance

NASDAQ:WKSP opened at $3.48 on Friday. Worksport has a 1 year low of $2.82 and a 1 year high of $12.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.96 and a quick ratio of 0.91. The business has a fifty day simple moving average of $7.04 and a two-hundred day simple moving average of $6.97. The company has a market capitalization of $11.46 million, a P/E ratio of -5.27 and a beta of 2.11.

Institutional Trading of Worksport

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Northern Trust Corp boosted its stake in Worksport by 136.1% in the 4th 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. Two Sigma Advisers LP purchased a new stake in shares of Worksport in the fourth quarter worth about $29,000. Geode Capital Management LLC boosted its position in shares of Worksport by 15.6% in the fourth quarter. Geode Capital Management LLC now owns 273,419 shares of the company’s stock valued at $252,000 after acquiring an additional 36,847 shares during the period. Two Sigma Securities LLC grew its stake in Worksport by 483.7% during the fourth quarter. Two Sigma Securities LLC now owns 91,564 shares of the company’s stock valued at $84,000 after acquiring an additional 75,878 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in Worksport during the 4th quarter worth approximately $73,000. 16.11% of the stock is currently owned by institutional investors.

About Worksport

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.