Worksport (NASDAQ:WKSP) Given New $11.50 Price Target at HC Wainwright

Worksport (NASDAQ:WKSP) had its target price hoisted by HC Wainwright from $1.50 to $11.50 in a research note released on Friday morning, MarketBeat.com reports. HC Wainwright currently has a buy rating on the stock.

A number of other brokerages have also commented on WKSP. Industrial Alliance Securities set a $17.50 price target on shares of Worksport in a report on Monday, March 3rd. Alliance Global Partners restated a “buy” rating on shares of Worksport in a research report on Tuesday, March 18th.

Worksport Stock Up 3.9 %

WKSP stock opened at $3.48 on Friday. The company’s 50 day moving average is $7.04 and its 200 day moving average is $6.97. The stock has a market cap of $11.46 million, a price-to-earnings ratio of -5.27 and a beta of 2.11. The company has a current ratio of 2.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.31. Worksport has a 1-year low of $2.82 and a 1-year high of $12.00.

Institutional Trading of Worksport

Institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC purchased a new stake in Worksport in the fourth quarter worth $397,000. Two Sigma Investments LP purchased a new stake in shares of Worksport in the 4th quarter worth about $145,000. Jane Street Group LLC purchased a new position in Worksport during the 4th quarter valued at about $79,000. Virtu Financial LLC purchased a new position in Worksport during the 4th quarter valued at about $73,000. Finally, Two Sigma Securities LLC boosted its stake in Worksport by 483.7% during the fourth quarter. Two Sigma Securities LLC now owns 91,564 shares of the company’s stock worth $84,000 after acquiring an additional 75,878 shares in the last quarter. 16.11% of the stock is currently owned by hedge funds and other institutional investors.

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.