Freight Technologies (NASDAQ:FRGT) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen cut shares of Freight Technologies (NASDAQ:FRGT) to a strong sell rating in a research note released on Saturday morning.

Separately, Weiss Ratings downgraded Freight Technologies from a “sell (e+)” rating to a “sell (e)” rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Freight Technologies Stock Down 6.6%

Freight Technologies stock opened at $1.71 on Friday. The stock’s 50 day moving average price is $3.53 and its 200 day moving average price is $4.46. Freight Technologies has a 1-year low of $1.50 and a 1-year high of $51.50. The company has a market cap of $974,700.00, a PE ratio of -0.02 and a beta of 1.11. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.00 and a quick ratio of 1.00.

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.