Short Interest in Freight Technologies, Inc. (NASDAQ:FRGT) Increases By 103.7%
by Sarita Garza · The Markets DailyFreight Technologies, Inc. (NASDAQ:FRGT – Get Free Report) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totaling 87,383 shares, an increase of 103.7% from the May 31st total of 42,900 shares. Based on an average trading volume of 406,823 shares, the days-to-cover ratio is presently 0.2 days. Currently, 16.8% of the company’s stock are sold short.
Analyst Ratings Changes
A number of equities research analysts have weighed in on FRGT shares. Wall Street Zen lowered Freight Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Weiss Ratings raised Freight Technologies from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, June 15th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.
Get Our Latest Stock Analysis on Freight Technologies
Freight Technologies Price Performance
Shares of FRGT stock opened at $4.59 on Thursday. The firm has a fifty day moving average of $4.00 and a two-hundred day moving average of $5.95. The firm has a market cap of $2.62 million, a P/E ratio of -0.05 and a beta of 1.09. Freight Technologies has a 1-year low of $2.51 and a 1-year high of $56.50. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.00 and a quick ratio of 1.00.
Freight Technologies Company Profile
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.