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

Worksport (NASDAQ:WKSP) posted its quarterly earnings results on Thursday. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.73) by ($0.02), Zacks reports. The business had revenue of $5.01 million during the quarter, compared to analyst estimates of $5.58 million. Worksport had a negative return on equity of 93.40% and a negative net margin of 134.19%. Worksport updated its FY 2025 guidance to EPS.

Worksport Price Performance

Worksport stock remained flat at $2.15 during mid-day trading on Friday. The company had a trading volume of 194,472 shares, compared to its average volume of 276,106. The firm has a market capitalization of $17.74 million, a price-to-earnings ratio of -0.68 and a beta of 0.46. Worksport has a twelve month low of $1.98 and a twelve month high of $12.00. The company has a quick ratio of 0.70, a current ratio of 2.27 and a debt-to-equity ratio of 0.12. The company has a fifty day moving average price of $3.24 and a 200 day moving average price of $3.25.

Hedge Funds Weigh In On Worksport

A hedge fund recently bought a new stake in Worksport stock. XTX Topco Ltd acquired a new position in shares of Worksport Ltd. (NASDAQ:WKSP) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 17,586 shares of the company’s stock, valued at approximately $50,000. XTX Topco Ltd owned 0.34% of Worksport as of its most recent SEC filing. Hedge funds and other institutional investors own 16.11% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Worksport in a research note on Thursday. Wall Street Zen cut Worksport from a “hold” rating to a “sell” rating in a research report on Saturday, September 13th. Finally, HC Wainwright reissued a “buy” rating and set a $11.50 price objective on shares of Worksport in a report on Monday, September 29th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Worksport presently has an average rating of “Moderate Buy” and a consensus price target of $14.00.

About Worksport

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.