Freight Technologies, Inc. (NASDAQ:FRGT) Short Interest Up 267.1% in February

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on FRGT shares. Wall Street Zen raised 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 analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Freight Technologies Price Performance

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

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

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.