HC Wainwright Forecasts Stronger Earnings for Worksport

Worksport Ltd. (NASDAQ:WKSP) – Analysts at HC Wainwright raised their FY2026 earnings per share (EPS) estimates for shares of Worksport in a research note issued to investors on Monday, March 30th. HC Wainwright analyst S. Buck now anticipates that the company will post earnings of ($1.15) per share for the year, up from their prior forecast of ($1.30). The consensus estimate for Worksport’s current full-year earnings is ($0.60) per share.

A number of other research firms have also recently weighed in on WKSP. Maxim Group set a $3.00 price objective on shares of Worksport in a report on Friday, February 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Worksport in a research note on Monday, December 22nd. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $7.25.

Worksport Stock Performance

Shares of WKSP opened at $1.01 on Wednesday. Worksport has a 1 year low of $0.90 and a 1 year high of $4.90. The company has a market cap of $12.01 million, a price-to-earnings ratio of -0.31 and a beta of 0.24. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.08 and a current ratio of 2.50. The firm has a fifty day moving average of $1.48 and a 200-day moving average of $2.32.

Worksport (NASDAQ:WKSP) last issued its quarterly earnings data on Thursday, March 26th. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.17). Worksport had a negative return on equity of 96.64% and a negative net margin of 120.20%.The company had revenue of $4.74 million for the quarter, compared to the consensus estimate of $8.90 million.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Armistice Capital LLC acquired a new position in shares of Worksport during the fourth quarter valued at approximately $2,058,000. Steward Partners Investment Advisory LLC lifted its position in Worksport by 255.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 71,000 shares of the company’s stock worth $151,000 after purchasing an additional 51,000 shares during the period. Geode Capital Management LLC boosted its stake in Worksport by 23.1% during the 4th quarter. Geode Capital Management LLC now owns 68,205 shares of the company’s stock valued at $145,000 after purchasing an additional 12,779 shares in the last quarter. LPL Financial LLC boosted its stake in Worksport by 225.2% during the 4th quarter. LPL Financial LLC now owns 54,067 shares of the company’s stock valued at $115,000 after purchasing an additional 37,440 shares in the last quarter. Finally, Centiva Capital LP acquired a new position in shares of Worksport during the 3rd quarter valued at $63,000. Institutional investors and hedge funds own 16.11% of the company’s stock.

Worksport Company Profile

Worksport Ltd. is an Israeli-based designer, developer and global supplier of innovative automotive accessories, with a primary focus on pickup truck bed covers. The company’s core offerings include a range of hard and soft tonneau covers under brands such as ROLL, FLEXIT and SOLAR, engineered to provide truck owners with enhanced utility, security and weather protection. Worksport leverages advanced polymer materials and patented folding mechanisms to deliver lightweight, durable solutions that are easy to install and operate.

In recent years, Worksport has expanded its product portfolio to incorporate solar technology, introducing integrated solar tonneau covers capable of generating power for auxiliary truck systems or charging batteries for recreational and off-grid applications.