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

Freight Technologies, Inc. (NASDAQ:FRGT) was the recipient of a significant decline in short interest during the month of June. As of June 30th, there was short interest totaling 23,099 shares, a decline of 73.6% from the June 15th total of 87,383 shares. Approximately 4.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 144,522 shares, the days-to-cover ratio is currently 0.2 days.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on FRGT shares. Weiss Ratings cut Freight Technologies from a “sell (e+)” rating to a “sell (e)” rating in a research note on Tuesday, July 7th. Wall Street Zen lowered Freight Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Freight Technologies currently has a consensus rating of “Sell”.

Freight Technologies Stock Up 1.8%

NASDAQ FRGT traded up $0.07 during trading hours on Monday, reaching $3.96. The company’s stock had a trading volume of 66,789 shares, compared to its average volume of 159,957. The firm has a fifty day simple moving average of $3.97 and a 200-day simple moving average of $5.48. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.10. Freight Technologies has a 52 week low of $2.51 and a 52 week high of $56.50.

Freight Technologies (NASDAQ:FRGT) last posted its earnings results on Thursday, May 14th. The company reported ($57.70) earnings per share for the quarter. Freight Technologies had a negative return on equity of 95.48% and a negative net margin of 60.49%.The business had revenue of $3.52 million for 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.