Worksport Ltd. (NASDAQ:WKSP – Get Free Report) was the target of a large decrease in short interest in the month of September. As of September 30th, there was short interest totaling 231,271 shares, a decrease of 36.7% from the September 15th total of 365,506 shares. Based on an average trading volume of 378,677 shares, the short-interest ratio is currently 0.6 days. Currently, 1.2% of the shares of the company are short sold.
Analysts Set New Price Targets
A number of research firms have commented on WKSP. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Worksport in a research report on Friday, October 2nd. Wall Street Zen downgraded shares of Worksport from a “hold” rating to a “sell” rating in a report on Saturday, September 5th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Worksport currently has a consensus rating of “Hold” and an average price target of $2.00.
View Our Latest Stock Analysis on Worksport
Worksport Price Performance
Shares of WKSP stock opened at $0.38 on Friday. Worksport has a 12-month low of $0.37 and a 12-month high of $3.54. The firm has a 50 day moving average price of $0.51 and a two-hundred day moving average price of $0.74. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.72 and a current ratio of 3.79.
Worksport (NASDAQ:WKSP – Get Free Report) last posted its earnings results 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 for the quarter, compared to the consensus estimate of $4.50 million.
About Worksport
Worksport Ltd. (NASDAQ: WKSP) develops and manufactures tonneau covers and related products for pickup trucks. Its covers are designed to protect cargo, improve vehicle utility and provide a secure, weather-resistant enclosure for truck beds.
The company’s product portfolio includes hard-shell and soft-folding tonneau covers, including its SC3 and SC4 models. Worksport has also developed TerraVis, a solar-integrated tonneau cover concept intended to generate electricity for use with a vehicle or auxiliary power system, as well as related energy-storage products.
Worksport is headquartered in West Seneca, New York, and focuses primarily on the North American pickup-truck market.
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