Worksport (NASDAQ:WKSP) Stock Price Expected to Rise, HC Wainwright Analyst Says

Worksport (NASDAQ:WKSP) had its target price upped by equities researchers at HC Wainwright from $1.50 to $11.50 in a report released on Friday, MarketBeat Ratings reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price would indicate a potential upside of 230.46% from the company’s current price.

WKSP has been the topic of a number of other reports. Industrial Alliance Securities set a $17.50 target price on Worksport in a report on Monday, March 3rd. Alliance Global Partners restated a “buy” rating on shares of Worksport in a report on Tuesday, March 18th.

Worksport Stock Up 3.9 %

WKSP stock opened at $3.48 on Friday. The stock’s 50 day simple moving average is $7.04 and its 200 day simple moving average is $6.98. The company has a market cap of $11.46 million, a P/E ratio of -5.27 and a beta of 2.11. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 2.96. Worksport has a fifty-two week low of $2.82 and a fifty-two week high of $12.00.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Northern Trust Corp grew its holdings in Worksport by 136.1% during the fourth quarter. Northern Trust Corp now owns 39,612 shares of the company’s stock worth $36,000 after buying an additional 22,832 shares in the last quarter. Two Sigma Advisers LP bought a new stake in shares of Worksport in the 4th quarter worth $29,000. Geode Capital Management LLC grew its stake in shares of Worksport by 15.6% in the 4th quarter. Geode Capital Management LLC now owns 273,419 shares of the company’s stock worth $252,000 after acquiring an additional 36,847 shares in the last quarter. Two Sigma Securities LLC raised its holdings in shares of Worksport by 483.7% in the fourth quarter. Two Sigma Securities LLC now owns 91,564 shares of the company’s stock valued at $84,000 after purchasing an additional 75,878 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Worksport during the fourth quarter valued at about $73,000. Institutional investors own 16.11% of the company’s stock.

About Worksport

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.