Short Interest in Freight Technologies, Inc. (NASDAQ:FRGT) Declines By 16.7%

Freight Technologies, Inc. (NASDAQ:FRGT) saw a large decline in short interest in the month of January. As of January 15th, there was short interest totaling 30,853 shares, a decline of 16.7% from the December 31st total of 37,023 shares. Currently, 6.2% of the shares of the company are sold short. Based on an average daily volume of 93,225 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily volume of 93,225 shares, the days-to-cover ratio is currently 0.3 days. Currently, 6.2% of the shares of the company are sold short.

Wall Street Analyst Weigh In

FRGT has been the subject of a number of recent research reports. Wall Street Zen raised Freight Technologies to a “hold” rating in a research report on Saturday, December 13th. Weiss Ratings reissued a “sell (e)” rating on shares of Freight Technologies in a report on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Freight Technologies has a consensus rating of “Sell”.

Freight Technologies Stock Up 0.4%

Shares of NASDAQ:FRGT traded up $0.01 during midday trading on Monday, reaching $1.26. 17,831 shares of the company traded hands, compared to its average volume of 591,513. The firm’s fifty day moving average price is $2.38 and its two-hundred day moving average price is $5.03. The firm has a market capitalization of $690,250.00, a price-to-earnings ratio of -0.07 and a beta of 1.07. Freight Technologies has a 12 month low of $1.21 and a 12 month high of $69.80.

Freight Technologies (NASDAQ:FRGT) last posted its earnings results on Tuesday, December 9th. The company reported ($5.65) earnings per share for the quarter. Freight Technologies had a negative net margin of 40.28% and a negative return on equity of 73.48%. The company had revenue of $2.46 million for the quarter.

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.