Freightos Limited (NASDAQ:CRGO) Sees Large Decline in Short Interest

Freightos Limited (NASDAQ:CRGO) was the target of a large decline in short interest in January. As of January 15th, there was short interest totaling 21,959 shares, a decline of 53.0% from the December 31st total of 46,766 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average trading volume of 112,967 shares, the days-to-cover ratio is presently 0.2 days. Based on an average trading volume of 112,967 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the company’s stock are short sold.

Freightos Stock Up 6.6%

CRGO stock opened at $2.45 on Thursday. The company has a market cap of $125.76 million, a P/E ratio of -5.11 and a beta of 0.18. Freightos has a fifty-two week low of $1.72 and a fifty-two week high of $4.25. The stock’s 50 day simple moving average is $2.67 and its 200 day simple moving average is $3.06. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.02 and a current ratio of 2.02.

Freightos (NASDAQ:CRGO) last announced its quarterly earnings results on Monday, November 17th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.02). Freightos had a negative return on equity of 47.17% and a negative net margin of 82.31%.The company had revenue of $7.67 million for the quarter, compared to the consensus estimate of $7.64 million. On average, research analysts expect that Freightos will post -0.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CRGO has been the topic of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Freightos in a research report on Wednesday, January 21st. Wall Street Zen cut shares of Freightos from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Hedge Funds Weigh In On Freightos

Several institutional investors have recently bought and sold shares of the company. Essex Investment Management Co. LLC bought a new position in shares of Freightos in the third quarter worth $1,019,000. Topline Capital Management LLC bought a new position in shares of Freightos in the second quarter worth $658,000. Cantor Fitzgerald L. P. purchased a new position in Freightos during the third quarter worth about $848,000. Mink Brook Asset Management LLC purchased a new stake in shares of Freightos in the 3rd quarter valued at about $559,000. Finally, Legato Capital Management LLC purchased a new stake in Freightos in the third quarter valued at approximately $295,000. Hedge funds and other institutional investors own 22.72% of the company’s stock.

Freightos Company Profile

Freightos, trading under the symbol CRGO on Nasdaq, operates a digital booking platform designed to streamline international freight logistics. The company’s core offering, the Freightos Marketplace, allows shippers and freight forwarders to compare and book air, ocean and trucking services online, providing rate transparency and live booking capabilities. By aggregating quotes from a global network of carriers and forwarders, Freightos enables customers to secure competitive prices and manage bookings through a single interface.

In addition to its marketplace, Freightos offers a suite of SaaS solutions for logistics professionals.