Short Interest in Freight Technologies, Inc. (NASDAQ:FRGT) Grows By 275.0%

Freight Technologies, Inc. (NASDAQ:FRGT) was the target of a large growth in short interest in January. As of January 30th, there was short interest totaling 115,701 shares, a growth of 275.0% from the January 15th total of 30,853 shares. Currently, 23.1% of the shares of the stock are short sold. Based on an average daily volume of 1,141,340 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily volume of 1,141,340 shares, the days-to-cover ratio is presently 0.1 days. Currently, 23.1% of the shares of the stock are short sold.

Freight Technologies Price Performance

FRGT stock traded up $0.14 during midday trading on Friday, hitting $1.47. The stock had a trading volume of 1,683,794 shares, compared to its average volume of 498,872. Freight Technologies has a 12-month low of $1.07 and a 12-month high of $69.80. The firm has a market cap of $808,500.00, a PE ratio of -0.08 and a beta of 1.07. The company’s 50-day moving average price is $1.96 and its 200 day moving average price is $4.58.

Freight Technologies (NASDAQ:FRGT) last announced its quarterly earnings data on Tuesday, December 9th. The company reported ($5.65) EPS for the quarter. Freight Technologies had a negative net margin of 40.28% and a negative return on equity of 73.48%. The business had revenue of $2.46 million during the quarter.

Analyst Ratings Changes

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