Worksport Ltd. (NASDAQ:WKSP) Short Interest Update

Worksport Ltd. (NASDAQ:WKSP) saw a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 297,000 shares, a decrease of 19.7% from the March 31st total of 369,700 shares. Currently, 6.4% of the company’s stock are short sold. Based on an average daily volume of 139,900 shares, the short-interest ratio is presently 2.1 days.

Institutional Trading of Worksport

Large investors have recently bought and sold shares of the stock. Virtu Financial LLC bought a new position in shares of Worksport in the fourth quarter worth about $73,000. Two Sigma Securities LLC lifted its stake in shares of Worksport by 483.7% during the fourth quarter. Two Sigma Securities LLC now owns 91,564 shares of the company’s stock valued at $84,000 after acquiring an additional 75,878 shares during the period. Two Sigma Investments LP acquired a new stake in Worksport in the fourth quarter worth about $145,000. Jane Street Group LLC bought a new stake in Worksport during the 4th quarter worth about $79,000. Finally, Two Sigma Advisers LP acquired a new position in Worksport during the 4th quarter valued at about $29,000. 16.11% of the stock is currently owned by institutional investors.

Worksport Price Performance

NASDAQ:WKSP opened at $3.25 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 2.96. The company has a 50-day moving average of $3.92 and a 200-day moving average of $6.64. The company has a market capitalization of $15.58 million, a price-to-earnings ratio of -4.92 and a beta of 2.07. Worksport has a 52 week low of $2.44 and a 52 week high of $12.00.

Analyst Ratings Changes

Several brokerages have recently commented on WKSP. Alliance Global Partners restated a “buy” rating on shares of Worksport in a report on Tuesday, March 18th. HC Wainwright reaffirmed a “buy” rating and issued a $11.50 price target on shares of Worksport in a research report on Wednesday, April 23rd. Finally, Industrial Alliance Securities set a $17.50 target price on Worksport in a report on Monday, March 3rd.

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 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.