Two Sigma Investments LP Makes New Investment in Worksport Ltd. (NASDAQ:WKSP)

Two Sigma Investments LP acquired a new stake in shares of Worksport Ltd. (NASDAQ:WKSP) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 157,901 shares of the company’s stock, valued at approximately $145,000. Two Sigma Investments LP owned about 0.48% of Worksport at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Virtu Financial LLC purchased a new stake in Worksport in the fourth quarter worth approximately $73,000. Jane Street Group LLC purchased a new position in shares of Worksport during the fourth quarter worth approximately $79,000. Renaissance Technologies LLC bought a new stake in shares of Worksport in the 4th quarter worth approximately $397,000. Geode Capital Management LLC lifted its holdings in shares of Worksport by 15.6% in the 4th quarter. Geode Capital Management LLC now owns 273,419 shares of the company’s stock worth $252,000 after acquiring an additional 36,847 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Worksport by 136.1% in the 4th quarter. Northern Trust Corp now owns 39,612 shares of the company’s stock valued at $36,000 after purchasing an additional 22,832 shares in the last quarter. 16.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WKSP has been the topic of a number of analyst reports. HC Wainwright reiterated a “buy” rating and issued a $11.50 target price on shares of Worksport in a research report on Friday, May 16th. Maxim Group reduced their price objective on Worksport from $9.00 to $7.00 and set a “buy” rating on the stock in a research note on Tuesday, May 20th. Alliance Global Partners reissued a “buy” rating on shares of Worksport in a research note on Tuesday, March 18th. Finally, Industrial Alliance Securities set a $17.50 target price on Worksport in a report on Monday, March 3rd.

Worksport Stock Down 4.2%

Shares of NASDAQ WKSP opened at $3.17 on Friday. The firm’s fifty day moving average is $2.99 and its 200 day moving average is $5.84. Worksport Ltd. has a 52 week low of $2.44 and a 52 week high of $12.00. The company has a quick ratio of 0.91, a current ratio of 2.96 and a debt-to-equity ratio of 0.31. The company has a market cap of $16.48 million, a price-to-earnings ratio of -4.80 and a beta of 2.00.

Worksport (NASDAQ:WKSP) last announced its quarterly earnings results on Thursday, May 15th. The company reported ($1.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($1.05). The business had revenue of $2.24 million for the quarter, compared to analyst estimates of $3.72 million. Worksport had a negative net margin of 242.68% and a negative return on equity of 85.53%. On average, equities research analysts expect that Worksport Ltd. will post -0.6 earnings per share for the current year.

Worksport 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 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.