Insider Buying: Worksport Ltd. (NASDAQ:WKSP) CEO Buys 33,333 Shares of Stock

Worksport Ltd. (NASDAQ:WKSP) CEO Steven F. Rossi purchased 33,333 shares of Worksport stock in a transaction that occurred on Tuesday, November 19th. The shares were bought at an average cost of $0.75 per share, for a total transaction of $24,999.75. Following the transaction, the chief executive officer now directly owns 2,525,871 shares of the company’s stock, valued at $1,894,403.25. This represents a 1.34 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Worksport Price Performance

WKSP traded up $0.06 on Thursday, hitting $0.56. 757,243 shares of the stock were exchanged, compared to its average volume of 396,065. The business has a 50-day moving average of $0.59 and a two-hundred day moving average of $0.64. The company has a current ratio of 2.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.31. Worksport Ltd. has a 12 month low of $0.36 and a 12 month high of $1.97.

Institutional Investors Weigh In On Worksport

An institutional investor recently raised its position in Worksport stock. Armistice Capital LLC increased its holdings in shares of Worksport Ltd. (NASDAQ:WKSP) by 13.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,206,758 shares of the company’s stock after buying an additional 268,650 shares during the quarter. Armistice Capital LLC owned 7.76% of Worksport worth $1,719,000 at the end of the most recent reporting period. 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.