Worksport (NASDAQ:WKSP) Announces Quarterly Earnings Results

Worksport (NASDAQ:WKSP) posted its earnings results on Tuesday. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.02, MarketWatch Earnings reports. Worksport had a negative return on equity of 59.40% and a negative net margin of 4,728.72%.

Worksport Stock Up 20.6 %

WKSP opened at $1.70 on Thursday. The firm has a market cap of $29.65 million, a P/E ratio of -2.12 and a beta of 0.97. Worksport has a 52 week low of $0.95 and a 52 week high of $4.33. The business’s fifty day simple moving average is $1.94 and its 200 day simple moving average is $2.50.

Institutional Trading of Worksport

A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in shares of Worksport by 3.4% during the second quarter. Geode Capital Management LLC now owns 119,583 shares of the company’s stock valued at $288,000 after acquiring an additional 3,900 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Worksport during the second quarter valued at $52,000. Vanguard Group Inc. acquired a new stake in shares of Worksport during the third quarter valued at $29,000. Jane Street Group LLC acquired a new stake in shares of Worksport during the second quarter valued at $27,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of Worksport during the second quarter valued at $34,000. Institutional investors and hedge funds own 2.49% of the company’s stock.

Worksport Company Profile

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 flush-mounted, and top-mounted folding tonneau covers.