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

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

Freight Technologies Price Performance

Freight Technologies stock traded up $0.03 during midday trading on Wednesday, reaching $1.08. The company had a trading volume of 14,292 shares, compared to its average volume of 880,821. The firm’s fifty day simple moving average is $1.26 and its 200-day simple moving average is $3.39. The company has a market capitalization of $591,250.00, a P/E ratio of -0.06 and a beta of 1.03. Freight Technologies has a 12-month low of $1.01 and a 12-month high of $69.80.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Wall Street Zen raised shares of Freight Technologies to a “hold” rating in a research note on Saturday, December 13th. Weiss Ratings reaffirmed a “sell (e)” rating on shares of Freight Technologies in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

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.