Worksport Ltd. (NASDAQ:WKSP) Short Interest Update

Worksport Ltd. (NASDAQ:WKSP) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 922,600 shares, a growth of 33.5% from the October 15th total of 691,200 shares. Currently, 3.3% of the shares of the company are sold short. Based on an average daily trading volume, of 353,700 shares, the days-to-cover ratio is currently 2.6 days.

Worksport Stock Down 15.8 %

Shares of WKSP stock opened at $0.73 on Friday. Worksport has a 12 month low of $0.36 and a 12 month high of $1.97. The company has a quick ratio of 1.93, a current ratio of 4.77 and a debt-to-equity ratio of 0.28. The firm has a market cap of $22.66 million, a PE ratio of -0.98 and a beta of 0.66. The stock has a 50 day moving average of $0.59 and a 200-day moving average of $0.65.

Worksport (NASDAQ:WKSP) last released its earnings results on Tuesday, August 13th. The company reported ($0.15) EPS for the quarter. The company 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%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Worksport stock. Armistice Capital LLC boosted its position in shares of Worksport Ltd. (NASDAQ:WKSP) by 13.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,206,758 shares of the company’s stock after acquiring an additional 268,650 shares during the period. Armistice Capital LLC owned approximately 7.76% of Worksport worth $1,719,000 at the end of the most recent quarter. 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.