Worksport (NASDAQ:WKSP) Coverage Initiated by Analysts at HC Wainwright

HC Wainwright began coverage on shares of Worksport (NASDAQ:WKSP) in a report issued on Thursday morning,Benzinga reports. The firm issued a buy rating and a $1.50 price objective on the stock.

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

Worksport Trading Down 1.9 %

NASDAQ:WKSP opened at $0.94 on Thursday. The firm has a market capitalization of $31.01 million, a P/E ratio of -1.43 and a beta of 0.47. The business has a 50 day simple moving average of $0.80 and a 200 day simple moving average of $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. Worksport has a 12-month low of $0.36 and a 12-month high of $1.54.

Hedge Funds Weigh In On Worksport

A hedge fund recently raised its stake in Worksport stock. Armistice Capital LLC grew its holdings in shares of Worksport Ltd. (NASDAQ:WKSP) by 13.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 2,206,758 shares of the company’s stock after acquiring an additional 268,650 shares during the quarter. Armistice Capital LLC owned about 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.