Worksport Ltd. (NASDAQ:WKSP) Short Interest Update

Worksport Ltd. (NASDAQ:WKSP) was the recipient of a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 138,700 shares, a decline of 15.0% from the March 31st total of 163,100 shares. Approximately 0.7% of the shares of the stock are sold short. Based on an average trading volume of 227,500 shares, the days-to-cover ratio is currently 0.6 days.

Worksport Trading Up 19.6 %

WKSP opened at $0.49 on Monday. The firm has a market capitalization of $11.82 million, a PE ratio of -0.58 and a beta of 1.03. Worksport has a twelve month low of $0.36 and a twelve month high of $4.33. The firm’s 50-day moving average price is $0.75 and its 200 day moving average price is $1.22.

Worksport (NASDAQ:WKSP) last posted its quarterly earnings results on Thursday, March 28th. The company reported ($0.19) earnings per share for the quarter. Worksport had a negative return on equity of 79.01% and a negative net margin of 975.75%. The business had revenue of $0.84 million for the quarter.

Hedge Funds Weigh In On Worksport

A hedge fund recently bought a new stake in Worksport stock. Armistice Capital LLC bought a new position in shares of Worksport Ltd. (NASDAQ:WKSP) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,707,000 shares of the company’s stock, valued at approximately $2,543,000. Armistice Capital LLC owned 8.79% of Worksport at the end of the most recent reporting period. 16.11% of the stock is owned by institutional investors.

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 flush-mounted, and top-mounted folding tonneau covers.