Freight Technologies, Inc. (NASDAQ:FRGT – Get Free Report) saw a significant increase in short interest in the month of September. As of September 15th, there was short interest totaling 51,686 shares, an increase of 88.4% from the August 31st total of 27,430 shares. Based on an average daily trading volume, of 82,783 shares, the days-to-cover ratio is currently 0.6 days. Currently, 9.9% of the company’s shares are short sold.
Freight Technologies Trading Down 7.4%
FRGT stock traded down $0.02 on Wednesday, reaching $0.28. The company’s stock had a trading volume of 61,003,930 shares, compared to its average volume of 836,185. The business has a fifty day simple moving average of $1.64 and a two-hundred day simple moving average of $3.32. Freight Technologies has a 12-month low of $0.24 and a 12-month high of $51.25. The firm has a market cap of $160,160.00, a PE ratio of -0.00 and a beta of 1.05. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.00 and a current ratio of 1.00.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the stock. Weiss Ratings raised shares of Freight Technologies from a “sell (e)” rating to a “sell (e+)” rating in a report on Thursday, September 24th. Wall Street Zen downgraded shares of Freight Technologies to a “strong sell” rating in a research note on Saturday, August 15th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.
Freight Technologies Company Profile
Freight Technologies, Inc is a logistics technology company focused on cross-border freight transportation between Mexico and the United States. Through its digital freight platform, Fr8App, the company connects shippers with carriers and supports the planning and management of truckload shipments.
Fr8App is designed to provide services such as freight matching, shipment quotations, transportation coordination, tracking, and communication between shippers and carriers. The platform is intended to improve visibility and efficiency in cross-border trucking by using technology to streamline traditionally manual logistics processes.
Freight Technologies primarily serves businesses involved in trade and freight movement between Mexico and the United States.
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