HC Wainwright Reaffirms Buy Rating for Worksport (NASDAQ:WKSP)

Worksport (NASDAQ:WKSP)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They currently have a $11.50 price objective on the stock. HC Wainwright’s price objective suggests a potential upside of 292.49% from the stock’s current price. HC Wainwright also issued estimates for Worksport’s FY2026 earnings at ($2.03) EPS.

Other equities analysts have also recently issued reports about the company. Industrial Alliance Securities set a $17.50 price target on Worksport in a research report on Monday, March 3rd. Alliance Global Partners reissued a “buy” rating on shares of Worksport in a research note on Tuesday, March 18th.

Worksport Price Performance

Shares of NASDAQ WKSP opened at $2.93 on Friday. The stock has a market cap of $14.45 million, a PE ratio of -4.44 and a beta of 2.01. Worksport has a fifty-two week low of $2.44 and a fifty-two week high of $12.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 2.96. The stock has a fifty day moving average of $3.29 and a 200-day moving average of $6.35.

Worksport (NASDAQ:WKSP) last announced its quarterly earnings results on Thursday, May 15th. The company reported ($1.05) earnings per share for the quarter, meeting the consensus estimate of ($1.05). The company had revenue of $2.24 million during the quarter, compared to analysts’ expectations of $3.72 million. Worksport had a negative return on equity of 85.53% and a negative net margin of 242.68%. Equities research analysts anticipate that Worksport will post -0.6 earnings per share for the current year.

Institutional Investors Weigh In On Worksport

Several large investors have recently added to or reduced their stakes in WKSP. IFP Advisors Inc bought a new stake in Worksport during the first quarter valued at $25,000. Two Sigma Advisers LP bought a new stake in Worksport during the fourth quarter valued at $29,000. Northern Trust Corp boosted its stake in Worksport by 136.1% during the fourth quarter. Northern Trust Corp now owns 39,612 shares of the company’s stock valued at $36,000 after buying an additional 22,832 shares during the period. Virtu Financial LLC bought a new stake in Worksport during the fourth quarter valued at $73,000. Finally, Jane Street Group LLC bought a new stake in Worksport during the fourth quarter worth about $79,000. Institutional investors own 16.11% of the company’s stock.

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.