Worksport (NASDAQ:WKSP) Price Target Raised to $11.50

Worksport (NASDAQ:WKSP) had its target price increased by HC Wainwright from $1.50 to $11.50 in a report released on Friday morning, MarketBeat reports. HC Wainwright currently has a buy rating on the stock.

Several other research firms also recently weighed in on WKSP. Alliance Global Partners reaffirmed a “buy” rating on shares of Worksport in a research note on Tuesday, March 18th. Industrial Alliance Securities set a $17.50 target price on Worksport in a report on Monday, March 3rd.

Worksport Trading Up 3.9 %

Shares of WKSP opened at $3.48 on Friday. Worksport has a twelve month low of $2.82 and a twelve month high of $12.00. The company has a current ratio of 2.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $11.46 million, a P/E ratio of -5.27 and a beta of 2.11. The firm’s 50-day moving average is $7.04 and its two-hundred day moving average is $7.00.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Virtu Financial LLC purchased a new stake in Worksport in the 4th quarter valued at approximately $73,000. Geode Capital Management LLC lifted 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 in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Worksport during the fourth quarter valued at $397,000. Two Sigma Securities LLC increased its position in Worksport by 483.7% during the 4th quarter. Two Sigma Securities LLC now owns 91,564 shares of the company’s stock worth $84,000 after purchasing an additional 75,878 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Worksport by 136.1% in the 4th quarter. Northern Trust Corp now owns 39,612 shares of the company’s stock valued at $36,000 after purchasing an additional 22,832 shares during the last quarter. 16.11% of the stock is owned by hedge funds and other institutional investors.

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.