Worksport (NASDAQ:WKSP) Stock Price Down 6%

Worksport Ltd. (NASDAQ:WKSP)’s stock price dropped 6% during mid-day trading on Wednesday . The company traded as low as $0.42 and last traded at $0.42. Approximately 114,503 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 315,474 shares. The stock had previously closed at $0.45.

Worksport Trading Down 2.3 %

The company has a debt-to-equity ratio of 0.28, a current ratio of 4.77 and a quick ratio of 1.93. The business has a 50-day moving average of $0.63 and a 200-day moving average of $0.65. The firm has a market cap of $12.80 million, a price-to-earnings ratio of -0.55 and a beta of 0.75.

Worksport (NASDAQ:WKSP) last released its earnings results on Tuesday, August 13th. The company reported ($0.15) earnings per share (EPS) for the quarter. The company had revenue of $1.92 million during the quarter. Worksport had a negative net margin of 410.82% and a negative return on equity of 84.45%.

Hedge Funds Weigh In On Worksport

A hedge fund recently bought a new stake in Worksport stock. Armistice Capital LLC acquired a new position in shares of Worksport Ltd. (NASDAQ:WKSP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,707,000 shares of the company’s stock, valued at approximately $2,543,000. Armistice Capital LLC owned 8.79% of Worksport as of its most recent SEC filing. 16.11% of the stock is owned by hedge funds and other 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.