Worksport Ltd. (NASDAQ:WKSP) Short Interest Update

Worksport Ltd. (NASDAQ:WKSP) was the target of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totaling 365,506 shares, a decrease of 64.8% from the August 31st total of 1,038,600 shares. Based on an average daily volume of 443,614 shares, the days-to-cover ratio is presently 0.8 days. Currently, 2.5% of the shares of the stock are short sold.

Worksport Stock Down 0.7%

WKSP stock traded down $0.00 during mid-day trading on Tuesday, reaching $0.45. The company had a trading volume of 36,472 shares, compared to its average volume of 3,221,766. The company has a market capitalization of $6.95 million, a price-to-earnings ratio of -0.19 and a beta of 0.27. Worksport has a 52 week low of $0.37 and a 52 week high of $3.90. The stock has a 50 day simple moving average of $0.58 and a two-hundred day simple moving average of $0.82. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.79 and a quick ratio of 0.72.

Worksport (NASDAQ:WKSP) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.11. Worksport had a negative return on equity of 102.57% and a negative net margin of 114.49%.The company had revenue of $5.23 million during the quarter, compared to the consensus estimate of $4.50 million.

Analyst Ratings Changes

A number of research firms recently weighed in on WKSP. Wall Street Zen downgraded shares of Worksport from a “hold” rating to a “sell” rating in a research note on Saturday, September 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Worksport in a report on Wednesday, July 8th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $2.00.

Worksport Company Profile

Worksport Ltd. (NASDAQ: WKSP) develops and manufactures tonneau covers and related accessories for pickup trucks. Its products are designed to protect cargo, improve vehicle utility, and provide a finished appearance while maintaining access to the truck bed.

The company’s product portfolio includes hard-shell and soft-folding tonneau covers, including its COR and SC4 product lines. Worksport is also developing SOLIS, a tonneau cover designed to incorporate solar technology for generating electricity, along with the optional COR battery system intended to store and provide power for compatible uses.

Worksport was founded in 2011 and is headquartered in West Seneca, New York.