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

Worksport (NASDAQ:WKSP) posted its quarterly earnings results on Tuesday. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.02), Zacks reports. Worksport had a negative net margin of 114.49% and a negative return on equity of 102.57%.

Worksport Stock Performance

Shares of Worksport stock traded up $0.01 during trading hours on Tuesday, reaching $0.30. The company’s stock had a trading volume of 110,277 shares, compared to its average volume of 2,811,918. The company’s 50 day simple moving average is $0.41 and its 200 day simple moving average is $0.88. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.72 and a current ratio of 3.79. Worksport has a one year low of $0.26 and a one year high of $3.13. The stock has a market cap of $6.02 million, a P/E ratio of -0.13 and a beta of 0.54.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on WKSP shares. Weiss Ratings restated a “sell (e+)” rating on shares of Worksport in a research report on Friday, October 2nd. Maxim Group cut Worksport from a “buy” rating to a “hold” rating in a research note on Friday, October 30th. Finally, Wall Street Zen cut shares of Worksport from a “hold” rating to a “sell” rating in a research report on Saturday, September 5th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $2.00.

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.