Worksport Ltd. (NASDAQ:WKSP) Short Interest Down 22.1% in December

Worksport Ltd. (NASDAQ:WKSP) was the recipient of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totaling 449,618 shares, a decrease of 22.1% from the December 15th total of 577,108 shares. Approximately 5.9% of the shares of the stock are short sold. Based on an average trading volume of 309,101 shares, the short-interest ratio is presently 1.5 days. Based on an average trading volume of 309,101 shares, the short-interest ratio is presently 1.5 days. Approximately 5.9% of the shares of the stock are short sold.

Institutional Investors Weigh In On Worksport

A number of hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in shares of Worksport by 11.2% in the 2nd quarter. Geode Capital Management LLC now owns 33,259 shares of the company’s stock worth $94,000 after buying an additional 3,338 shares in the last quarter. Centiva Capital LP purchased a new stake in shares of Worksport during the 3rd quarter valued at about $63,000. Finally, XTX Topco Ltd bought a new position in shares of Worksport in the 2nd quarter valued at about $50,000. Hedge funds and other institutional investors own 16.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Worksport in a research note on Monday, December 22nd. HC Wainwright reaffirmed a “buy” rating and set a $11.50 price objective on shares of Worksport in a report on Monday, September 29th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Worksport Price Performance

Shares of Worksport stock opened at $2.30 on Monday. The firm has a market cap of $18.98 million, a PE ratio of -0.92 and a beta of 0.38. The stock has a 50 day moving average of $2.39 and a 200 day moving average of $3.05. The company has a current ratio of 2.04, a quick ratio of 0.91 and a debt-to-equity ratio of 0.05. Worksport has a 12 month low of $1.92 and a 12 month high of $11.00.

Worksport (NASDAQ:WKSP) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.02). The firm had revenue of $5.01 million during the quarter, compared to the consensus estimate of $5.58 million. Worksport had a negative return on equity of 93.38% and a negative net margin of 121.98%. On average, research analysts expect that Worksport will post -0.6 EPS for the current fiscal year.

About Worksport

Worksport Ltd. is an Israeli-based designer, developer and global supplier of innovative automotive accessories, with a primary focus on pickup truck bed covers. The company’s core offerings include a range of hard and soft tonneau covers under brands such as ROLL, FLEXIT and SOLAR, engineered to provide truck owners with enhanced utility, security and weather protection. Worksport leverages advanced polymer materials and patented folding mechanisms to deliver lightweight, durable solutions that are easy to install and operate.

In recent years, Worksport has expanded its product portfolio to incorporate solar technology, introducing integrated solar tonneau covers capable of generating power for auxiliary truck systems or charging batteries for recreational and off-grid applications.