Worksport (NASDAQ:WKSP) Shares Up 2.9%

Worksport Ltd. (NASDAQ:WKSP)’s stock price shot up 2.9% on Thursday . The stock traded as high as $0.87 and last traded at $0.86. 164,646 shares were traded during mid-day trading, a decline of 39% from the average session volume of 270,082 shares. The stock had previously closed at $0.84.

Worksport Stock Down 15.6 %

The firm’s fifty day moving average is $0.68 and its two-hundred day moving average is $0.92.

Worksport (NASDAQ:WKSP) last released its quarterly earnings results on Thursday, May 16th. The company reported ($0.18) earnings per share for the quarter. The company had revenue of $0.51 million during the quarter. Worksport had a negative net margin of 751.91% and a negative return on equity of 82.97%.

Institutional Trading of Worksport

A hedge fund recently bought a new stake in Worksport stock. Armistice Capital LLC bought a new stake in shares of Worksport Ltd. (NASDAQ:WKSP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,707,000 shares of the company’s stock, valued at approximately $2,543,000. Armistice Capital LLC owned approximately 8.79% of Worksport at the end of the most recent quarter. Institutional investors and hedge funds own 16.11% of the company’s stock.

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.