Worksport Ltd (NASDAQ: WKSP) – Time For Strategy Change?

Worksport Ltd (NASDAQ:WKSP) currently has a daily average trading volume of 1.39M but it saw 1766419 shares traded in last market. With a market cap of 27.21M USD, the company’s current market price of $0.83 came falling about -1.83 while comparing to the previous closing price of $0.84. In past 52 weeks, the stock remained buoying in the range of price level as high as $1.66 and as low as $0.36. In the recent trading on the day, stock has struck highest price mark of $0.82 while lowest mark touched by it was $0.9046.

Taking a look at 20-day trading activity of Worksport Ltd (WKSP) gives us an average price of $0.7538, while its current price level is -50.23% below from 52-week high level whereas it is 129.47% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $0.7136 while that of 200 days or SMA-200 reads an average of $0.6451. A closer look into the stock’s movement over the week reveals that its volatility is standing at 18.09% during that period while stretching the period over a month that decreases to 14.70%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 53.52 which implies that the stock is in neutral territory.

Over the week, WKSP’s stock price is moving -7.17% down while it is 58.53% when we observe its performance for the past one month. Year-to-date it is -44.56% down and over the past year, the stock is showing a downside performance of -40.14%.

Currently, Worksport Ltd’s total number of outstanding shares is 30.92M. Company’s return on investment (ROI) stands at -70.76% and return on equity (ROE) at -94.70%. Stock’s beta reads 0.48. Stock has a price to book (P/B) ratio of 1.56 while price to sale or P/S ratio amounts to 4.25. Its return on asset (ROA) is -62.63% on average.