Worksport (NasdaqCM:WKSP) has seen its one-year price target surge to $5.10 per share, marking a substantial 66.67% increase from the previous estimate of $3.06 dating back to January 16, 2024.
The revised target, an average compiled from a variety of analyst forecasts, now ranges from a low of $5.05 to a high of $5.25 per share. This upward revision signifies a remarkable 311.29% increase from the stock’s recent closing price of $1.24 per share.
A Closer Look at Fund Sentiment
Presently, 33 funds or institutions hold positions in Worksport, reflecting a decrease of 1 owner or 2.94% in the last quarter. The mean portfolio weight of all funds invested in WKSP has soared by 425.87%, currently standing at 0.00%. Institutions collectively own 2,386K shares, showing a noteworthy 168.90% increment over the past three months.
The put/call ratio for WKSP registers at 0.02, indicating a positive bullish sentiment prevailing among investors.
Snapshot of Other Shareholders
Armistice Capital holds 1,707K shares, translating to an ownership stake of 8.78% in the company.
Geode Capital Management retains 140K shares, representing a 0.72% ownership interest which remained unchanged in the last quarter.
VEXMX – Vanguard Extended Market Index Fund possesses 139K shares, equivalent to 0.72% ownership, having boosted its stake by 34.20% from the previous filing. The fund augmented its WKSP allocation by 37.42% in the last quarter.
Renaissance Technologies holds 80K shares, making up 0.41% ownership, with a 49.52% surge from their prior holdings. The firm increased its portfolio share in WKSP by 28.61% over the last quarter.
FSMAX – Fidelity Extended Market Index Fund owns 66K shares representing 0.34% ownership; there have been no changes in the last quarter.
Unveiling Worksport Background
Worksport Ltd. specializes in designing and distributing tonneau covers for pickup trucks across the United States and Canada. The company aids businesses by securing investment capital for growth and expansion while offering business development and marketing strategies. Founded on April 2, 2003, Worksport is headquartered in Vaughan, Canada.
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The opinions expressed are those of the author and do not necessarily reflect those of Nasdaq, Inc.
