Worksport Ltd. (NASDAQ:WKSP) Short Interest Down 43.8% in October

Worksport Ltd. (NASDAQ:WKSP) was the target of a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 691,200 shares, a decline of 43.8% from the September 30th total of 1,230,000 shares. Approximately 2.6% of the shares of the company are short sold. Based on an average trading volume of 331,200 shares, the days-to-cover ratio is presently 2.1 days.

Institutional Investors Weigh In On Worksport

An institutional investor recently raised its position in Worksport stock. Armistice Capital LLC grew its position in Worksport Ltd. (NASDAQ:WKSP) by 13.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,206,758 shares of the company’s stock after purchasing an additional 268,650 shares during the period. Armistice Capital LLC owned about 7.76% of Worksport worth $1,719,000 as of its most recent filing with the SEC. 16.11% of the stock is owned by institutional investors.

Worksport Trading Down 5.1 %

Shares of WKSP stock opened at $0.73 on Monday. Worksport has a 1 year low of $0.36 and a 1 year high of $1.97. The company has a current ratio of 4.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.28. The firm’s fifty day simple moving average is $0.55 and its 200 day simple moving average is $0.62. The firm has a market capitalization of $21.76 million, a P/E 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) earnings per share for the quarter. Worksport had a negative return on equity of 84.45% and a negative net margin of 410.82%. The business had revenue of $1.92 million for the quarter.

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.