Worksport Ltd. (NASDAQ:WKSP) CEO Buys $24,999.75 in Stock

Worksport Ltd. (NASDAQ:WKSP) CEO Steven F. Rossi bought 33,333 shares of the stock in a transaction dated Tuesday, November 19th. The stock was bought at an average cost of $0.75 per share, with a total value of $24,999.75. Following the purchase, the chief executive officer now owns 2,525,871 shares in the company, valued at $1,894,403.25. The trade was a 1.34 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Worksport Trading Up 10.9 %

WKSP traded up $0.06 during midday trading on Friday, reaching $0.64. 636,084 shares of the company’s stock traded hands, compared to its average volume of 412,251. The firm has a fifty day moving average of $0.60 and a two-hundred day moving average of $0.64. The stock has a market capitalization of $21.19 million, a price-to-earnings ratio of -0.95 and a beta of 0.66. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.96 and a quick ratio of 0.91. Worksport Ltd. has a 52 week low of $0.36 and a 52 week high of $1.84.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Worksport stock. Armistice Capital LLC increased its stake in Worksport Ltd. (NASDAQ:WKSP) by 13.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,206,758 shares of the company’s stock after buying an additional 268,650 shares during the period. Armistice Capital LLC owned 7.76% of Worksport worth $1,719,000 as of its most recent filing with the Securities & Exchange Commission. 16.11% of the stock is currently owned by institutional investors and hedge funds.

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.