Worksport Ltd. (NASDAQ:WKSP) Short Interest Update

Worksport Ltd. (NASDAQ:WKSP) was the recipient of a significant decrease in short interest in October. As of October 15th, there was short interest totalling 691,200 shares, a decrease of 43.8% from the September 30th total of 1,230,000 shares. Based on an average daily volume of 331,200 shares, the short-interest ratio is presently 2.1 days. Currently, 2.6% of the shares of the stock are short sold.

Institutional Inflows and Outflows

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

Worksport Price Performance

Shares of WKSP stock traded down $0.04 on Friday, hitting $0.73. 213,618 shares of the stock traded hands, compared to its average volume of 439,833. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.77 and a quick ratio of 1.93. Worksport has a 52 week low of $0.36 and a 52 week high of $1.97. The firm has a 50 day simple moving average of $0.55 and a two-hundred day simple moving average of $0.62. The firm has a market cap of $21.76 million, a price-to-earnings ratio of -0.98 and a beta of 0.74.

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

Worksport Company Profile

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.