Worksport Ltd. (NASDAQ:WKSP) CEO Steven F. Rossi Buys 33,333 Shares

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

Worksport Trading Up 10.2 %

Shares of WKSP opened at $0.64 on Friday. Worksport Ltd. has a one year low of $0.36 and a one year high of $1.84. The stock has a 50-day moving average price of $0.60 and a 200 day moving average price of $0.64. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 2.96. The company has a market capitalization of $21.05 million, a P/E ratio of -0.97 and a beta of 0.66.

Hedge Funds Weigh In On Worksport

An institutional investor recently raised its position in Worksport stock. Armistice Capital LLC raised its stake in shares of Worksport Ltd. (NASDAQ:WKSP) by 13.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,206,758 shares of the company’s stock after acquiring an additional 268,650 shares during the quarter. Armistice Capital LLC owned approximately 7.76% of Worksport worth $1,719,000 at the end of the most recent quarter. 16.11% of the stock is currently owned by hedge funds and other institutional investors.

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.