Freight Technologies (NASDAQ:FRGT) Downgraded by Wall Street Zen to “Sell”

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

Separately, Weiss Ratings reiterated a “sell (e)” rating on shares of Freight Technologies in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Freight Technologies Stock Down 4.8%

FRGT opened at $0.99 on Friday. Freight Technologies has a 52 week low of $0.99 and a 52 week high of $69.80. The business’s 50 day moving average is $1.23 and its two-hundred day moving average is $3.30. The firm has a market cap of $544,500.00, a price-to-earnings ratio of -0.06 and a beta of 1.03.

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.