Short Interest in Freightos Limited (NASDAQ:CRGO) Grows By 46.5%

Freightos Limited (NASDAQ:CRGO) was the target of a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 32,178 shares, an increase of 46.5% from the January 15th total of 21,959 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average trading volume of 132,630 shares, the days-to-cover ratio is currently 0.2 days. Based on an average trading volume of 132,630 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the shares of the stock are sold short.

Freightos Stock Down 1.5%

Shares of CRGO opened at $2.02 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.02 and a quick ratio of 2.02. The stock has a market capitalization of $103.61 million, a price-to-earnings ratio of -4.21 and a beta of 0.17. Freightos has a 1 year low of $1.72 and a 1 year high of $4.25. The business’s 50 day simple moving average is $2.42 and its 200-day simple moving average is $3.02.

Freightos (NASDAQ:CRGO) last announced its quarterly earnings results on Monday, November 17th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.02). The business had revenue of $7.67 million during the quarter, compared to the consensus estimate of $7.64 million. Freightos had a negative return on equity of 47.17% and a negative net margin of 82.31%. As a group, equities analysts expect that Freightos will post -0.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CRGO has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Freightos in a report on Wednesday, January 21st. Wall Street Zen cut shares of Freightos from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Institutional Trading of Freightos

Several hedge funds and other institutional investors have recently bought and sold shares of CRGO. Hudson Bay Capital Management LP bought a new stake in Freightos in the fourth quarter worth $32,000. Citadel Advisors LLC raised its stake in shares of Freightos by 24.4% in the third quarter. Citadel Advisors LLC now owns 74,671 shares of the company’s stock valued at $246,000 after acquiring an additional 14,624 shares during the period. Millennium Management LLC boosted its stake in shares of Freightos by 116.5% during the 3rd quarter. Millennium Management LLC now owns 30,711 shares of the company’s stock worth $101,000 after purchasing an additional 16,525 shares during the period. Jane Street Group LLC boosted its stake in shares of Freightos by 183.8% during the 1st quarter. Jane Street Group LLC now owns 30,788 shares of the company’s stock worth $74,000 after purchasing an additional 19,938 shares during the period. Finally, Goldman Sachs Group Inc. purchased a new stake in Freightos in the 1st quarter worth about $73,000. Hedge funds and other institutional investors own 22.72% of the company’s stock.

About Freightos

Freightos, trading under the symbol CRGO on Nasdaq, operates a digital booking platform designed to streamline international freight logistics. The company’s core offering, the Freightos Marketplace, allows shippers and freight forwarders to compare and book air, ocean and trucking services online, providing rate transparency and live booking capabilities. By aggregating quotes from a global network of carriers and forwarders, Freightos enables customers to secure competitive prices and manage bookings through a single interface.

In addition to its marketplace, Freightos offers a suite of SaaS solutions for logistics professionals.