Worksport (NASDAQ:WKSP) Now Covered by HC Wainwright

HC Wainwright started coverage on shares of Worksport (NASDAQ:WKSP) in a research note released on Thursday,Benzinga reports. The brokerage issued a buy rating and a $1.50 target price on the stock.

Separately, Alliance Global Partners started coverage on Worksport in a report on Monday, December 23rd. They issued a “buy” rating and a $2.00 price target for the company.

Worksport Trading Down 1.9 %

Shares of WKSP opened at $0.94 on Thursday. Worksport has a 12 month low of $0.36 and a 12 month high of $1.54. The stock’s 50-day moving average is $0.80 and its two-hundred day moving average is $0.69. 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 stock has a market cap of $31.01 million, a PE ratio of -1.43 and a beta of 0.47.

Hedge Funds Weigh In On Worksport

An institutional investor recently raised its position in Worksport stock. Armistice Capital LLC lifted its position in Worksport Ltd. (NASDAQ:WKSP) by 13.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,206,758 shares of the company’s stock after acquiring an additional 268,650 shares during the quarter. Armistice Capital LLC owned 7.76% of Worksport worth $1,719,000 as of its most recent SEC filing. 16.11% of the stock is owned by institutional investors and hedge funds.

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.