Millennium Management LLC recently announced the acquisition of new stake in Worksport Ltd. (NASDAQ:WKSP). The institutional investor has increased its shareholding in the Consumer Cyclical company by 18.18% to 14245.0 shares with purchase of 2191.0 shares. This fresh investment now brings its stake to 0.08% valued currently at $14174.0. In addition, The Vanguard Group, Inc. raised its holdings by 12350.0 to 12350.0 shares. And UBS Securities LLC has lifted its position by 33.32% or 1328.0 shares – to 5313.0 shares.
With over 0.26 million Worksport Ltd. (WKSP) shares trading Tuesday and a closing price of $1.00 on the day, the dollar volume was approximately $0.26 million. The shares have shown a negative half year performance of -38.27% and its price on 01/17/23 lost nearly -5.66%. Currently, there are 17.16M common shares owned by the public and among those 12.85M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for WKSP have a consensus price objective of $5.50. The analysts have set the share’s price value over the next 12 months at a high of $5.50 and a low of $5.50. The average price target is 81.82% above its recent price level and an upside to the estimated low will see the stock gain 81.82% over that period. But an upside of 81.82% will see the stock hit the forecast high price target while median target price for the stock is $5.50.
Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Worksport Ltd. are Fidelity Extended Market Index Fu, Fidelity Total Market Index Fund, and Vanguard Extended Market Index Fu. Fidelity Extended Market Index Fu owns 67170.0 shares of the company’s stock, all valued at over $66834.0. Vanguard Extended Market Index Fu now owns shares totaling to 0.10% of the shares outstanding.
Shares of Worksport Ltd. (NASDAQ: WKSP) opened at $1.04, down -$0.02 from a prior closing price of $1.06. However, the script later moved the day high at 1.0700, down -5.66%. The company’s stock has a 5-day price change of -4.76% and -40.83% over the past three months. WKSP shares are trading 0.50% year to date (YTD), with the 12-month market performance down to -61.09% lower. It has a 12-month low price of $0.95 and touched a high of $3.50 over the same period. WKSP has an average intraday trading volume of 71.78K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -12.94%, -31.00%, and -48.43% respectively.
Institutional ownership of Worksport Ltd. (NASDAQ: WKSP) shares accounts for 6.40% of the company’s 17.16M shares outstanding. Mutual fund holders own 0.75%, while other institutional holders and individual stakeholders account for 19.42% and 0.45% respectively.
It has a market capitalization of $17.36M and a beta (3y monthly) value of 1.76. The earnings-per-share (ttm) stands at -$0.76. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.51% over the week and 6.89% over the month.
Analysts forecast that Worksport Ltd. (WKSP) will achieve an EPS of -$0.22 for the current quarter, -$0.24 for the next quarter and -$0.62 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.22 while analysts give the company a high EPS estimate of -$0.22. Earnings per share for the fiscal year are expected to decrease by -58.10%, and -11.10% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Worksport Ltd. (WKSP) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”