Worksport Ltd. (NASDAQ:WKSP) Short Interest Up 48.4% in March

Worksport Ltd. (NASDAQ:WKSP) saw a large growth in short interest in March. As of March 31st, there was short interest totalling 163,100 shares, a growth of 48.4% from the March 15th total of 109,900 shares. Based on an average daily volume of 205,500 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.9% of the shares of the company are short sold.

Worksport Trading Down 6.0 %

Shares of WKSP opened at $0.47 on Friday. Worksport has a twelve month low of $0.46 and a twelve month high of $4.33. The stock’s 50 day moving average is $0.97 and its two-hundred day moving average is $1.35. The firm has a market capitalization of $11.33 million, a PE ratio of -0.55 and a beta of 1.03.

Worksport (NASDAQ:WKSP) last announced its quarterly earnings data on Thursday, March 28th. The company reported ($0.19) earnings per share for the quarter. Worksport had a negative net margin of 975.75% and a negative return on equity of 79.01%. The business had revenue of $0.84 million during the quarter.

Institutional Investors Weigh In On Worksport

A number of hedge funds and other institutional investors have recently modified their holdings of WKSP. Armistice Capital LLC acquired a new stake in shares of Worksport during the 4th quarter valued at approximately $2,543,000. Vanguard Group Inc. lifted its position in shares of Worksport by 49.5% during the 3rd quarter. Vanguard Group Inc. now owns 143,906 shares of the company’s stock valued at $302,000 after acquiring an additional 47,628 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Worksport during the 2nd quarter valued at approximately $52,000. Jane Street Group LLC acquired a new stake in shares of Worksport during the 2nd quarter valued at approximately $27,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in shares of Worksport during the 2nd quarter worth approximately $34,000. 16.11% of the stock is currently owned by institutional investors and hedge funds.

Worksport Company Profile

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 flush-mounted, and top-mounted folding tonneau covers.