Freight Technologies, Inc. (NASDAQ:FRGT) Short Interest Update

Freight Technologies, Inc. (NASDAQ:FRGT) was the recipient of a significant growth in short interest in February. As of February 27th, there was short interest totaling 339,271 shares, a growth of 267.1% from the February 12th total of 92,431 shares. Approximately 67.7% of the company’s stock are short sold. Based on an average daily volume of 2,402,529 shares, the short-interest ratio is presently 0.1 days. Based on an average daily volume of 2,402,529 shares, the short-interest ratio is presently 0.1 days. Approximately 67.7% of the company’s stock are short sold.

Freight Technologies Trading Down 3.7%

Freight Technologies stock opened at $1.03 on Wednesday. Freight Technologies has a 1-year low of $1.03 and a 1-year high of $69.80. The company has a market capitalization of $566,500.00, a P/E ratio of -0.06 and a beta of 1.03. The firm’s fifty day simple moving average is $1.42 and its 200-day simple moving average is $3.75.

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

Analyst Ratings Changes

Several equities analysts have issued reports on FRGT shares. Wall Street Zen raised shares of Freight Technologies to a “hold” rating in a research note on Saturday, December 13th. Weiss Ratings reiterated 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, According to MarketBeat, the stock currently has an average rating of “Sell”.

About Freight Technologies

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.