Worksport (NASDAQ:WKSP) Stock Rated “Buy” in New Coverage at HC Wainwright

Research analysts at HC Wainwright began coverage on shares of Worksport (NASDAQ:WKSP) in a report released on Thursday, Benzinga reports. The brokerage set a “buy” rating on the stock.

A number of other research analysts also recently issued reports on the stock. Maxim Group downgraded shares of Worksport from a “buy” rating to a “hold” rating in a research report on Friday, October 30th. Wall Street Zen downgraded shares of Worksport from a “hold” rating to a “sell” rating in a research report on Saturday, September 5th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Worksport in a research report on Friday, October 2nd. One research 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.com, the company has an average rating of “Hold” and an average price target of $2.00.

Worksport Stock Down 4.5%

Shares of NASDAQ WKSP opened at $0.28 on Thursday. The company has a market capitalization of $5.56 million, a P/E ratio of -0.15 and a beta of 0.54. Worksport has a 52-week low of $0.25 and a 52-week high of $3.13. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.72 and a current ratio of 3.79. The company’s 50 day moving average price is $0.39 and its 200-day moving average price is $0.86.

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

Worksport Company Profile

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.