HC Wainwright Begins Coverage on Worksport (NASDAQ:WKSP)

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

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

Worksport Price Performance

Worksport stock opened at $0.91 on Thursday. The business has a 50 day simple moving average of $0.81 and a 200 day simple moving average of $0.69. Worksport has a one year low of $0.36 and a one year high of $1.54. The company has a market capitalization of $29.98 million, a PE ratio of -1.38 and a beta of 0.47. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.96 and a quick ratio of 0.91.

Institutional Trading of Worksport

A hedge fund recently raised its stake in Worksport stock. Armistice Capital LLC grew its stake in Worksport Ltd. (NASDAQ:WKSP) by 13.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,206,758 shares of the company’s stock after acquiring an additional 268,650 shares during the period. Armistice Capital LLC owned 7.76% of Worksport worth $1,719,000 as of its most recent filing with the Securities and Exchange Commission. 16.11% of the stock is currently owned by institutional investors.

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.