Worksport Ltd. (NASDAQ:WKSP – Get Free Report) saw a large increase in short interest in August. As of August 15th, there was short interest totalling 424,600 shares, an increase of 23.4% from the July 31st total of 344,200 shares. Approximately 3.2% of the shares of the stock are short sold. Based on an average trading volume of 146,000 shares, the days-to-cover ratio is currently 2.9 days.
Institutional Investors Weigh In On Worksport
Several hedge funds have recently modified their holdings of WKSP. Geode Capital Management LLC raised its position in Worksport by 3.4% during the 2nd quarter. Geode Capital Management LLC now owns 119,583 shares of the company’s stock worth $288,000 after purchasing an additional 3,900 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Worksport in the 2nd quarter valued at about $52,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Worksport in the 2nd quarter valued at about $34,000. Vanguard Group Inc. acquired a new stake in shares of Worksport in the 3rd quarter valued at about $29,000. Finally, Jane Street Group LLC acquired a new stake in shares of Worksport in the 2nd quarter valued at about $27,000. Institutional investors and hedge funds own 2.49% of the company’s stock.
Worksport Stock Up 1.0 %
NASDAQ WKSP opened at $2.90 on Tuesday. Worksport has a twelve month low of $0.95 and a twelve month high of $4.33. The company has a market cap of $50.58 million, a price-to-earnings ratio of -3.62 and a beta of 0.86. The business’s fifty day moving average is $3.01 and its 200 day moving average is $2.29.
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 flush-mounted, and top-mounted folding tonneau covers.
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