Worksport (NASDAQ:WKSP) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Worksport (NASDAQ:WKSP) posted its earnings results on Tuesday. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.02), Zacks reports. Worksport had a negative return on equity of 102.57% and a negative net margin of 114.49%.

Worksport Stock Up 1.9%

Shares of NASDAQ WKSP traded up $0.01 during midday trading on Tuesday, hitting $0.30. 110,277 shares of the stock traded hands, compared to its average volume of 2,811,918. Worksport has a one year low of $0.26 and a one year high of $3.13. The business has a 50 day moving average price of $0.41 and a two-hundred day moving average price of $0.88. The company has a market cap of $6.02 million, a PE ratio of -0.13 and a beta of 0.54. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.72 and a current ratio of 3.79.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on WKSP shares. Maxim Group cut shares of Worksport from a “buy” rating to a “hold” rating in a report on Friday, October 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Worksport in a research report on Friday, October 2nd. Finally, Wall Street Zen lowered Worksport from a “hold” rating to a “sell” rating in a research report on Saturday, September 5th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $2.00.

About Worksport

Worksport Ltd. (NASDAQ: WKSP) develops and manufactures tonneau covers and related products for pickup trucks. Its covers are designed to protect cargo, improve vehicle utility, and provide an alternative to conventional truck-bed coverings. The company serves the automotive aftermarket and targets owners of pickup trucks across North America. Worksport’s product portfolio includes hard and soft folding tonneau covers, including its COR line of hard-shell covers. The company is also developing SOLIS, a solar-integrated tonneau cover designed to generate electricity from sunlight, and COR battery-related products intended to store and supply portable power.