Short Interest in Freight Technologies, Inc. (NASDAQ:FRGT) Declines By 20.1%
by Sarita Garza · The Markets DailyFreight Technologies, Inc. (NASDAQ:FRGT – Get Free Report) was the target of a significant decrease in short interest in February. As of February 13th, there was short interest totaling 92,431 shares, a decrease of 20.1% from the January 29th total of 115,701 shares. Based on an average trading volume of 306,491 shares, the short-interest ratio is currently 0.3 days. Currently, 18.4% of the company’s stock are short sold. Currently, 18.4% of the company’s stock are short sold. Based on an average trading volume of 306,491 shares, the short-interest ratio is currently 0.3 days.
Analysts Set New Price Targets
FRGT has been the subject of several analyst reports. Weiss Ratings reissued a “sell (e)” rating on shares of Freight Technologies in a research note on Monday, December 22nd. Wall Street Zen raised Freight Technologies to a “hold” rating in a research report on Saturday, December 13th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.
Check Out Our Latest Report on Freight Technologies
Freight Technologies Price Performance
Shares of NASDAQ:FRGT opened at $1.20 on Thursday. Freight Technologies has a one year low of $1.04 and a one year high of $69.80. The company has a market cap of $660,000.00, a price-to-earnings ratio of -0.07 and a beta of 1.03. The firm has a 50 day simple moving average of $1.49 and a 200 day simple moving average of $3.92.
Freight Technologies (NASDAQ:FRGT – Get Free Report) last issued its quarterly earnings data on Tuesday, December 9th. The company reported ($5.65) earnings per share for the quarter. The firm had revenue of $2.46 million for the quarter. Freight Technologies had a negative return on equity of 73.48% and a negative net margin of 40.28%.
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.