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

Freight Technologies, Inc. (NASDAQ:FRGT) saw a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 87,383 shares, a growth of 103.7% from the May 31st total of 42,900 shares. Currently, 16.8% of the company’s shares are short sold. Based on an average trading volume of 406,823 shares, the days-to-cover ratio is presently 0.2 days.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Weiss Ratings raised Freight Technologies from a “sell (e)” rating to a “sell (e+)” rating in a research note on Monday, June 15th. Wall Street Zen lowered shares of Freight Technologies from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Freight Technologies Trading Up 14.4%

NASDAQ FRGT traded up $0.56 on Wednesday, hitting $4.45. The company’s stock had a trading volume of 32,967 shares, compared to its average volume of 180,917. The firm has a market cap of $2.54 million, a P/E ratio of -0.05 and a beta of 1.15. Freight Technologies has a 52-week low of $2.51 and a 52-week high of $56.50. The company’s 50-day simple moving average is $4.00 and its 200 day simple moving average is $6.04. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.10.

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.