Short Interest in Freight Technologies, Inc. (NASDAQ:FRGT) Declines By 68.4%

Freight Technologies, Inc. (NASDAQ:FRGT) saw a significant drop in short interest during the month of March. As of March 13th, there was short interest totaling 107,256 shares, a drop of 68.4% from the February 26th total of 339,271 shares. Currently, 21.4% of the company’s shares are sold short. Based on an average trading volume of 277,797 shares, the days-to-cover ratio is presently 0.4 days. Based on an average trading volume of 277,797 shares, the days-to-cover ratio is presently 0.4 days. Currently, 21.4% of the company’s shares are sold short.

Freight Technologies Stock Performance

Shares of NASDAQ:FRGT traded up $0.03 during trading hours on Wednesday, reaching $1.08. The stock had a trading volume of 14,292 shares, compared to its average volume of 880,821. The stock has a market capitalization of $591,250.00, a price-to-earnings ratio of -0.06 and a beta of 1.03. The firm’s 50 day moving average is $1.26 and its 200-day moving average is $3.39. Freight Technologies has a 1 year low of $1.01 and a 1 year high of $69.80.

Wall Street Analyst Weigh In

FRGT has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Freight Technologies to a “hold” rating in a report on Saturday, December 13th. Weiss Ratings reissued a “sell (e)” rating on shares of Freight Technologies in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company 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.