Worksport Ltd [NASDAQ: WKSP] plunged by -$0.03 during the normal trading session on while it closed the day at $0.57. The company report on March 28, 2024 at 8:00 AM that WORKSPORT ANNOUNCES RECEIPT OF SOLAR PANELS REQUIRED TO BEGIN PRODUCTION OF HIGHLY ANTICIPATED SOLIS SOLAR TONNEAU COVER.
The SOLIS Solar Cover, a groundbreaking product designed to revolutionize the pickup truck market, integrates cutting-edge solar technology into a durable and functional truck bed cover. With the arrival of these solar panels, Worksport believes it is on track to bring the SOLIS Solar Cover to market this summer, aligning with the Company’s mission to merge automotive accessories with renewable energy. The solar panels received are produced with the highest quality and latest technology in photovoltaics and flexible solar wafer cells. Designing and configuring the panels took considerable engineering efforts and time, requiring custom sizing, configurations, and technical specifications to meet Worksport’s stringent standards. These solar panels are anticipated to produce extremely high power, with an output of 170-180 watts per square meter. The solar panels are durable and highly flexible to suit their application within a folding, rigid tonneau cover for light trucks.
Worksport Ltd stock has also loss -1.71% of its value over the past 7 days. However, WKSP stock has declined by -63.14% in the 3 months of the year. Over the past six months meanwhile, it has lost -74.56% and lost -61.41% year-on date.
The market cap for WKSP stock reached $12.40 million, with 21.57 million shares outstanding and 16.97 million shares in the current float. Compared to the average trading volume of 196.00K shares, WKSP reached a trading volume of 121092 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 $5.00 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 1.00. 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 0.09 The Price to Book ratio for the last quarter was 0.61, with the Price to Cash per share for the same quarter was set at 0.14.
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 -1.71. With this latest performance, WKSP shares dropped by -51.68% in over the last four-week period, additionally sinking by -74.56% over the last 6 months – not to mention a drop of -58.63% 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 26.16, with the RSI for the last a single of trading hit 25.81, and the three-weeks RSI is set at 28.14 for Worksport Ltd [WKSP]. The present Moving Average for the last 50 days of trading for this stock 1.1123, while it was recorded at 0.5883 for the last single week of trading, and 1.9502 for the last 200 days.
Worksport Ltd [WKSP]: An insightful look at the core fundamentals
Worksport Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.57 and a Current Ratio set at 1.04.
Earnings per share (EPS) analysis for Worksport Ltd [WKSP] stock
With the latest financial reports released by the company, Worksport Ltd posted -0.17/share EPS, while the average EPS was predicted by analysts to be reported at -0.22/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 22.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for WKSP.
Worksport Ltd [WKSP]: Institutional Ownership
The top three institutional holders of WKSP stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in WKSP stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in WKSP stock with ownership which is approximately 5.8325%.
