Freight Technologies, Inc. (NASDAQ:FRGT) Stock Short Interest Rises 88.4%

Freight Technologies, Inc. (NASDAQ:FRGT) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 51,686 shares, a growth of 88.4% from the August 31st total of 27,430 shares. Based on an average daily volume of 82,783 shares, the short-interest ratio is currently 0.6 days. Currently, 9.9% of the company’s shares are sold short.

Analysts Set New Price Targets

FRGT has been the topic of a number of recent analyst reports. Weiss Ratings upgraded Freight Technologies from a “sell (e)” rating to a “sell (e+)” rating in a report on Thursday. Wall Street Zen cut shares of Freight Technologies to a “strong sell” rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Freight Technologies presently has a consensus rating of “Sell”.

Freight Technologies Trading Down 5.7%

Shares of NASDAQ:FRGT opened at $0.33 on Tuesday. Freight Technologies has a 12 month low of $0.31 and a 12 month high of $51.25. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.10. The company’s fifty day simple moving average is $1.76 and its 200 day simple moving average is $3.39. The firm has a market cap of $188,100.00, a price-to-earnings ratio of -0.00 and a beta of 1.05.

About Freight Technologies

Freight Technologies, Inc is a logistics technology company focused on cross-border freight transportation between Mexico and the United States. Through its digital freight platform, Fr8App, the company connects shippers with carriers and supports the planning and management of truckload shipments.

Fr8App is designed to provide services such as freight matching, shipment quotations, transportation coordination, tracking, and communication between shippers and carriers. The platform is intended to improve visibility and efficiency in cross-border trucking by using technology to streamline traditionally manual logistics processes.

Freight Technologies primarily serves businesses involved in trade and freight movement between Mexico and the United States.