Worksport Ltd. (NASDAQ:WKSP) Short Interest Update

Worksport Ltd. (NASDAQ:WKSP) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 1,160,000 shares, an increase of 72.7% from the August 31st total of 671,600 shares. Currently, 4.3% of the company’s shares are sold short. Based on an average daily volume of 277,100 shares, the days-to-cover ratio is presently 4.2 days.

Worksport Price Performance

WKSP stock opened at $0.42 on Friday. The stock’s fifty day simple moving average is $0.60 and its 200-day simple moving average is $0.63. The company has a quick ratio of 1.93, a current ratio of 4.77 and a debt-to-equity ratio of 0.28. Worksport has a 52-week low of $0.36 and a 52-week high of $2.49. The stock has a market capitalization of $12.34 million, a price-to-earnings ratio of -0.51 and a beta of 0.75.

Worksport (NASDAQ:WKSP) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.15) EPS for the quarter. The firm had revenue of $1.92 million for the quarter. Worksport had a negative return on equity of 84.45% and a negative net margin of 410.82%.

Hedge Funds Weigh In On Worksport

An institutional investor recently raised its position in Worksport stock. Armistice Capital LLC lifted its stake in Worksport Ltd. (NASDAQ:WKSP) by 13.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,206,758 shares of the company’s stock after buying an additional 268,650 shares during the period. Armistice Capital LLC owned approximately 7.76% of Worksport worth $1,719,000 as of its most recent SEC filing. Institutional investors and hedge funds own 16.11% of the company’s stock.

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.