Worksport Ltd. (NASDAQ:WKSP) Short Interest Down 20.3% in December

Posted by Scott Davis on Jan 17th, 2025

Worksport Ltd. (NASDAQ:WKSP – Get Free Report) was the target of a large decrease in short interest in December. As of December 31st, there was short interest totalling 746,900 shares, a decrease of 20.3% from the December 15th total of 937,000 shares. Currently, 2.5% of the shares of the stock are short sold. Based on an average daily volume of 1,650,000 shares, the short-interest ratio is presently 0.5 days.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners initiated coverage on Worksport in a report on Monday, December 23rd. They set a “buy” rating and a $2.00 price target on the stock.

Check Out Our Latest Report on Worksport

Institutional Trading of Worksport

An institutional investor recently raised its position in Worksport stock. Armistice Capital LLC boosted its stake in shares of Worksport Ltd. (NASDAQ:WKSP – Free Report) by 13.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,206,758 shares of the company’s stock after buying an additional 268,650 shares during the quarter. Armistice Capital LLC owned approximately 7.76% of Worksport worth $1,719,000 as of its most recent SEC filing. Institutional investors own 16.11% of the company’s stock.

Worksport Trading Down 2.1 %

Shares of NASDAQ WKSP opened at $0.82 on Friday. The firm has a 50 day moving average price of $0.80 and a two-hundred day moving average price of $0.69. The stock has a market cap of $27.06 million, a P/E ratio of -1.24 and a beta of 0.47. Worksport has a 52-week low of $0.36 and a 52-week high of $1.54. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 2.96.

Worksport Company Profile

(Get Free Report)

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 covers. It also offers energy products, such as Worksport SOLIS, a tonneau cover with integrated solar panels; and Worksport COR energy storage system, a modular, portable power station.