Worksport Ltd. (NASDAQ:WKSP) Short Interest Update

Worksport Ltd. (NASDAQ:WKSPGet Free Report) was the recipient of a large decline in short interest in December. As of December 31st, there was short interest totalling 746,900 shares, a decline of 20.3% from the December 15th total of 937,000 shares. Based on an average trading volume of 1,650,000 shares, the short-interest ratio is currently 0.5 days. Approximately 2.5% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners initiated coverage on shares of Worksport in a research report on Monday, December 23rd. They issued a “buy” rating and a $2.00 price objective for the company.

Check Out Our Latest Stock Report on Worksport

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Worksport stock. Armistice Capital LLC boosted its holdings in shares of Worksport Ltd. (NASDAQ:WKSPFree Report) by 13.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,206,758 shares of the company’s stock after purchasing 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. Institutional investors own 16.11% of the company’s stock.

Worksport Stock Performance

Shares of WKSP stock opened at $0.83 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.96 and a quick ratio of 0.91. The company’s fifty day moving average price is $0.79 and its two-hundred day moving average price is $0.69. The firm has a market capitalization of $27.24 million, a P/E ratio of -1.25 and a beta of 0.47. Worksport has a 12 month low of $0.36 and a 12 month high of $1.54.

Worksport Company Profile

(Get Free Report)

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.

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