Worksport (NASDAQ:WKSP) Stock Picked Up by Analysts at HC Wainwright

Equities research analysts at HC Wainwright initiated coverage on shares of Worksport (NASDAQ:WKSP) in a research note issued on Thursday, Benzinga reports. The firm set a “buy” rating and a $2.00 price target on the stock.

A number of other equities research analysts also recently weighed in on WKSP. Weiss Ratings reiterated a “sell (e+)” rating on shares of Worksport in a report on Friday, October 2nd. Maxim Group lowered Worksport from a “buy” rating to a “hold” rating in a research report on Friday, October 30th. Finally, Wall Street Zen lowered shares of Worksport from a “hold” rating to a “sell” rating in a research note on Saturday, September 5th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $2.00.

Worksport Stock Down 4.5%

Shares of Worksport stock opened at $0.28 on Thursday. The company has a quick ratio of 0.72, a current ratio of 3.79 and a debt-to-equity ratio of 0.26. The firm has a market cap of $5.56 million, a P/E ratio of -0.15 and a beta of 0.54. Worksport has a fifty-two week low of $0.24 and a fifty-two week high of $3.13. The business has a 50-day moving average price of $0.39 and a 200 day moving average price of $0.86.

Worksport (NASDAQ:WKSP) last announced its quarterly earnings data on Tuesday, November 10th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.02). Worksport had a negative net margin of 95.65% and a negative return on equity of 95.05%. The firm had revenue of $7.23 million for the quarter, compared to analyst estimates of $7.24 million.

About Worksport

Worksport Ltd. (NASDAQ: WKSP) develops and manufactures tonneau covers and related products for pickup trucks. Its covers are designed to protect cargo, improve vehicle utility, and provide an alternative to conventional truck-bed coverings. The company serves the automotive aftermarket and targets owners of pickup trucks across North America. Worksport’s product portfolio includes hard and soft folding tonneau covers, including its COR line of hard-shell covers. The company is also developing SOLIS, a solar-integrated tonneau cover designed to generate electricity from sunlight, and COR battery-related products intended to store and supply portable power.