Short Interest in Worksport Ltd. (NASDAQ:WKSP) Drops By 15.0%

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Worksport stock. Armistice Capital LLC bought a new stake in shares of Worksport Ltd. (NASDAQ:WKSP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,707,000 shares of the company’s stock, valued at approximately $2,543,000. Armistice Capital LLC owned 8.79% of Worksport as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 16.11% of the company’s stock.

Worksport Trading Up 41.5 %

Shares of NASDAQ WKSP opened at $0.84 on Wednesday. The firm has a market cap of $20.12 million, a P/E ratio of -0.98 and a beta of 1.03. The business’s 50 day moving average is $0.72 and its 200-day moving average is $1.20. Worksport has a 1-year low of $0.36 and a 1-year high of $4.33.

Worksport (NASDAQ:WKSP) last posted its quarterly earnings data 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 firm had revenue of $0.84 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 flush-mounted, and top-mounted folding tonneau covers.