Worksport Ltd. [WKSP] Stock trading around $2.65 per share: What’s Next?

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Worksport Ltd. [NASDAQ: WKSP] plunged by -$0.08 during the normal trading session on Thursday and reaching a high of $3.50 during the day while it closed the day at $2.65. The company report on April 21, 2022 that Worksport Enters Into Formal Agreement With Hyundai America Technical Center, Inc..

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Worksport to produce working models of its SOLIS and COR for Upcoming Hyundai Vehicle.

Worksport Ltd. stock has also loss -10.77% of its value over the past 7 days. However, WKSP stock has inclined by 8.16% in the 3 months of the year. Over the past six months meanwhile, it has lost -55.01% and gained 9.50% year-on date.

The market cap for WKSP stock reached $46.06 million, with 16.95 million shares outstanding and 12.13 million shares in the current float. Compared to the average trading volume of 143.50K shares, WKSP reached a trading volume of 2956088 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Worksport Ltd. [WKSP]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WKSP shares is $7.21 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WKSP stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Average True Range (ATR) for Worksport Ltd. is set at 0.29, with the Price to Sales ratio for WKSP stock in the period of the last 12 months amounting to 153.52. The Price to Book ratio for the last quarter was 1.31, with the Price to Cash per share for the same quarter was set at 1.65.

WKSP stock trade performance evaluation

Worksport Ltd. [WKSP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.77. With this latest performance, WKSP shares gained by 19.37% in over the last four-week period, additionally sinking by -55.01% over the last 6 months – not to mention a drop of -59.23% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WKSP stock in for the last two-week period is set at 50.01, with the RSI for the last a single of trading hit 47.02, and the three-weeks RSI is set at 50.73 for Worksport Ltd. [WKSP]. The present Moving Average for the last 50 days of trading for this stock 2.51, while it was recorded at 2.73 for the last single week of trading, and 4.37 for the last 200 days.

Worksport Ltd. [WKSP]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Worksport Ltd. [WKSP] shares currently have an operating margin of -283.82 and a Gross Margin at +13.62. Worksport Ltd.’s Net Margin is presently recorded at -343.10.

When it comes to the capital structure of this company, Worksport Ltd. [WKSP] has a Total Debt to Total Equity ratio set at 416.71. Additionally, WKSP Total Debt to Total Capital is recorded at 80.65, with Total Debt to Total Assets ending up at 37.44. Long-Term Debt to Equity for the company is recorded at 8.55, with the Long-Term Debt to Total Capital now at 1.65.

Reflecting on the efficiency of the workforce at the company, Worksport Ltd. [WKSP] managed to generate an average of -$296,905 per employee. Receivables Turnover for the company is 1.93 with a Total Asset Turnover recorded at a value of 0.29.Worksport Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 18.70 and a Current Ratio set at 18.90.

Worksport Ltd. [WKSP]: Insider Ownership positions

There are presently around $1 million, or 1.80% of WKSP stock, in the hands of institutional investors. The top three institutional holders of WKSP stocks are: GEODE CAPITAL MANAGEMENT, LLC with ownership of 65,150, which is approximately -24.303% of the company’s market cap and around 19.00% of the total institutional ownership; CITADEL ADVISORS LLC, holding 58,826 shares of the stock with an approximate value of $0.16 million in WKSP stocks shares; and TWO SIGMA INVESTMENTS, LP, currently with $0.14 million in WKSP stock with ownership of nearly New of the company’s market capitalization.

Positions in Worksport Ltd. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 12 institutional holders increased their position in Worksport Ltd. [NASDAQ:WKSP] by around 228,142 shares. Additionally, 6 investors decreased positions by around 71,548 shares, while 3 investors held positions by with 1,163 shares. The mentioned changes placed institutional holdings at 298,527 shares, according to the latest SEC report filing. WKSP stock had 11 new institutional investments in for a total of 228,129 shares, while 4 institutional investors sold positions of 49,306 shares during the same period.