Market cap of Worksport Ltd. [WKSP] reaches 34.76M – now what?


Worksport Ltd. [NASDAQ: WKSP] price surged by 10.70 percent to reach at $0.2. The company report on June 22, 2022 that Worksport Launches Storefronts on Amazon, eBay and Walmart Marketplace.

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Worksport Ltd. (Nasdaq: WKSP) (the “Company” or “Worksport”), seeking to capitalize on the growing shift of consumer mindsets towards clean energy with its proprietary solar and green hydrogen-based technologies, has launched its eCommerce storefronts on Amazon, eBay, and Walmart Marketplace.

N.A. Williams Company is driving the Company’s marketing campaigns on each platform and has dedicated account executives with marketing managers assuming respective responsibilities across each outlet.

A sum of 11301552 shares traded at recent session while its average daily volume was at 154.69K shares. Worksport Ltd. shares reached a high of $2.47 and dropped to a low of $1.98 until finishing in the latest session at $2.07.

The one-year WKSP stock forecast points to a potential upside of 65.27. The average equity rating for WKSP stock is currently 2.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $5.96 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 0.16, with the Price to Sales ratio for WKSP stock in the period of the last 12 months amounting to 115.85. The Price to Book ratio for the last quarter was 1.10, with the Price to Cash per share for the same quarter was set at 1.54.

WKSP Stock Performance Analysis:

Worksport Ltd. [WKSP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.11. With this latest performance, WKSP shares gained by 0.49% in over the last four-week period, additionally sinking by -17.20% over the last 6 months – not to mention a drop of -82.43% 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 51.31, with the RSI for the last a single of trading hit 56.54, and the three-weeks RSI is set at 48.77 for Worksport Ltd. [WKSP]. The present Moving Average for the last 50 days of trading for this stock 2.2300, while it was recorded at 1.9100 for the last single week of trading, and 3.4000 for the last 200 days.

Insight into Worksport Ltd. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Worksport Ltd. [WKSP] shares currently have an operating margin of -2508.61 and a Gross Margin at -15.46. Worksport Ltd.’s Net Margin is presently recorded at -2599.86.

Return on Equity for this stock declined to -45.98, with Return on Assets sitting at -41.35.

Worksport Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 16.70 and a Current Ratio set at 17.20.

Worksport Ltd. [WKSP] Insider Position Details

There are presently around $0 million, or 1.20% 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 99,925, which is approximately 53.377% of the company’s market cap and around 19.00% of the total institutional ownership; SUSQUEHANNA INTERNATIONAL GROUP, LLP, holding 35,724 shares of the stock with an approximate value of $67000.0 in WKSP stocks shares; and STATE STREET CORP, currently with $32000.0 in WKSP stock with ownership of nearly 3.681% 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 8 institutional holders increased their position in Worksport Ltd. [NASDAQ:WKSP] by around 62,805 shares. Additionally, 8 investors decreased positions by around 164,342 shares, while 5 investors held positions by with 24,352 shares. The mentioned changes placed institutional holdings at 202,795 shares, according to the latest SEC report filing. WKSP stock had 2 new institutional investments in for a total of 10,007 shares, while 7 institutional investors sold positions of 161,053 shares during the same period.