Worksport Ltd. (NASDAQ:WKSP) Short Interest Down 15.0% in April

Worksport Ltd. (NASDAQ:WKSP) was the recipient of a large decline in short interest in 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. Based on an average daily volume of 227,500 shares, the short-interest ratio is currently 0.6 days. Currently, 0.7% of the company’s stock are sold short.

Hedge Funds Weigh In On Worksport

An institutional investor recently bought a new position in Worksport stock. Armistice Capital LLC acquired a new stake in Worksport Ltd. (NASDAQ:WKSP) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 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 currently owned by institutional investors.

Worksport Trading Up 41.5 %

NASDAQ WKSP opened at $0.84 on Wednesday. The business has a fifty day simple moving average of $0.72 and a 200 day simple moving average of $1.20. Worksport has a 12 month low of $0.36 and a 12 month high of $4.33. The firm has a market capitalization of $20.12 million, a P/E ratio of -0.98 and a beta of 1.03.

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

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.