Thinking Of Investing In Worksport Ltd. (NASDAQ: WKSP) Stock? Here’s What You Need To Know

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Worksport Ltd. (NASDAQ:WKSP) shares, rose in value on Thursday, September 23, with the stock price down by -10.70% to the previous day’s close as strong demand from buyers drove the stock to $7.01.

Actively observing the price movement in the last trading, the stock closed the session at $7.85, falling within a range of $6.89 and $8.03. The value of beta (5-year monthly) was 2.61. Referring to stock’s 52-week performance, its high was $16.40, and the low was $2.24. On the whole, WKSP has fluctuated by 32.51% over the past month.

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With the market capitalization of Worksport Ltd. currently standing at about $75.85 million, investors are eagerly awaiting this quarter’s results, scheduled for Apr 14, 2021.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that WKSP’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a Hold.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of WKSP currently trading nearly 18.23% and 9.23% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 58.09, while the 7-day volatility ratio is showing 17.92% which for the 30-day chart, stands at 9.02%. Furthermore, Worksport Ltd. (WKSP)’s beta value is 2.37, and its average true range (ATR) is 0.64.

Data on historical trading for Worksport Ltd. (NASDAQ:WKSP) indicates that the trading volumes over the past 10 days have averaged 2.99 million and over the past 3 months, they’ve averaged 557.03K. According to company’s latest data on outstanding shares, there are 9.83 million shares outstanding.

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Nearly 21.80% of Worksport Ltd.’s shares belong to company insiders. The stock has risen by 136.82% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the WKSP stock heading into the next quarter.