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

Posted by Maria Luz-Campos on Jan 17th, 2025

Worksport Ltd. (NASDAQ:WKSP – Get Free Report) was the target of a significant decrease in short interest in the month of 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. Based on an average daily volume of 1,650,000 shares, the days-to-cover ratio is presently 0.5 days. Approximately 2.5% of the shares of the stock are sold short.

Analysts Set New Price Targets

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

Get Our Latest Stock Report on Worksport

Worksport Stock Down 2.1 %

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

Hedge Funds Weigh In On Worksport

A hedge fund recently raised its stake in Worksport stock. Armistice Capital LLC boosted its holdings in Worksport Ltd. (NASDAQ:WKSP – Free Report) by 13.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period. Institutional investors own 16.11% of the company’s stock.

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.