Freight Technologies, Inc. (NASDAQ:FRGT) Short Interest Up 275.0% in January
by Michael Walen · The Markets DailyFreight Technologies, Inc. (NASDAQ:FRGT – Get Free Report) saw a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 115,701 shares, a growth of 275.0% from the January 15th total of 30,853 shares. Currently, 23.1% of the shares of the company are short sold. Based on an average daily trading volume, of 1,141,340 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily trading volume, of 1,141,340 shares, the days-to-cover ratio is presently 0.1 days. Currently, 23.1% of the shares of the company are short sold.
Analyst Ratings Changes
Several equities analysts recently weighed in on FRGT shares. Wall Street Zen raised Freight Technologies to a “hold” rating in a research note on Saturday, December 13th. Weiss Ratings reissued a “sell (e)” rating on shares of Freight Technologies in a research note on Monday, December 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Freight Technologies presently has a consensus rating of “Sell”.
Read Our Latest Stock Report on Freight Technologies
Freight Technologies Stock Up 0.8%
FRGT stock traded up $0.01 during trading on Wednesday, hitting $1.33. 43,811 shares of the company’s stock traded hands, compared to its average volume of 474,398. The stock has a fifty day moving average price of $2.04 and a two-hundred day moving average price of $4.62. Freight Technologies has a 52 week low of $1.07 and a 52 week high of $69.80. The stock has a market capitalization of $731,500.00, a price-to-earnings ratio of -0.08 and a beta of 1.07.
Freight Technologies (NASDAQ:FRGT – Get Free Report) last announced its quarterly earnings results on Tuesday, December 9th. The company reported ($5.65) earnings per share (EPS) for the quarter. Freight Technologies had a negative net margin of 40.28% and a negative return on equity of 73.48%. The firm had revenue of $2.46 million for the quarter.
About Freight Technologies
Freight Technologies, Inc (NASDAQ: FRGT) is a special purpose acquisition company incorporated in Delaware on November 17, 2020. The company was formed to raise capital through an initial public offering and to effect a merger, capital stock exchange, asset acquisition, stock purchase or other similar business combination with one or more businesses, with a primary focus on the freight, transportation and logistics sectors.
Freight Technologies seeks to leverage its blank-check structure to target companies involved in freight transportation, supply chain management and technology-enabled logistics services.