Worksport Ltd. (NASDAQ:WKSP) Stock Short Interest Report for September

Worksport Ltd. (NASDAQ:WKSP) was the target of a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 231,271 shares, a drop of 36.7% from the September 15th total of 365,506 shares. Based on an average daily volume of 378,677 shares, the days-to-cover ratio is presently 0.6 days. Approximately 1.2% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on WKSP shares. Wall Street Zen lowered Worksport from a “hold” rating to a “sell” rating in a research report on Saturday, September 5th. Weiss Ratings restated a “sell (e+)” rating on shares of Worksport in a research note on Friday, October 2nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $2.00.

Worksport Stock Performance

WKSP traded down $0.02 on Friday, reaching $0.35. The stock had a trading volume of 136,756 shares, compared to its average volume of 313,469. The business’s 50-day moving average price is $0.51 and its two-hundred day moving average price is $0.73. The company has a market cap of $7.06 million, a P/E ratio of -0.15 and a beta of 0.41. Worksport has a 12-month low of $0.35 and a 12-month high of $3.49. The company has a current ratio of 3.79, a quick ratio of 0.72 and a debt-to-equity ratio of 0.26.

Worksport (NASDAQ:WKSP) last announced its earnings results on Tuesday, August 11th. The company reported ($0.33) earnings per share for the quarter, topping 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 business had revenue of $5.23 million during 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.