Worksport (NASDAQ:WKSP) Releases Earnings Results, Misses Estimates By $0.02 EPS

Worksport (NASDAQ:WKSP) posted its earnings results on Thursday. The company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.73) by ($0.02), Zacks reports. The business had revenue of $5.01 million during the quarter, compared to analysts’ expectations of $5.58 million. Worksport had a negative net margin of 134.19% and a negative return on equity of 93.40%. Worksport updated its FY 2025 guidance to EPS.

Worksport Stock Performance

Shares of NASDAQ:WKSP remained flat at $2.15 during trading on Friday. The stock had a trading volume of 194,472 shares, compared to its average volume of 276,106. The company has a 50-day moving average price of $3.24 and a 200-day moving average price of $3.25. The firm has a market capitalization of $17.74 million, a price-to-earnings ratio of -0.68 and a beta of 0.46. Worksport has a 1-year low of $1.98 and a 1-year high of $12.00. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.70 and a current ratio of 2.27.

Institutional Trading of Worksport

A hedge fund recently bought a new stake in Worksport stock. XTX Topco Ltd bought a new position in shares of Worksport Ltd. (NASDAQ:WKSP) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 17,586 shares of the company’s stock, valued at approximately $50,000. XTX Topco Ltd owned approximately 0.34% of Worksport as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 16.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $11.50 price objective on shares of Worksport in a research note on Monday, September 29th. Wall Street Zen downgraded Worksport from a “hold” rating to a “sell” rating in a research note on Saturday, September 13th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Worksport in a research note on Thursday. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Worksport has an average rating of “Moderate Buy” and a consensus target price of $14.00.

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.