Short Interest in Freight Technologies, Inc. (NASDAQ:FRGT) Drops By 54.2%

Freight Technologies, Inc. (NASDAQ:FRGT) was the recipient of a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 87,100 shares, a decline of 54.2% from the February 29th total of 190,100 shares. Based on an average daily trading volume, of 519,000 shares, the short-interest ratio is presently 0.2 days. Approximately 3.6% of the company’s shares are sold short.

Freight Technologies Stock Up 6.3 %

Freight Technologies stock traded up $0.08 during mid-day trading on Thursday, reaching $1.36. 141,018 shares of the company traded hands, compared to its average volume of 538,931. Freight Technologies has a 52-week low of $1.17 and a 52-week high of $34.10. The firm’s 50 day moving average price is $1.98 and its 200 day moving average price is $2.88.

Institutional Investors Weigh In On Freight Technologies

Large investors have recently modified their holdings of the stock. Virtu Financial LLC bought a new position in Freight Technologies in the first quarter worth about $33,000. Renaissance Technologies LLC bought a new position in shares of Freight Technologies in the 2nd quarter worth approximately $57,000. Susquehanna International Group LLP purchased a new position in shares of Freight Technologies in the 1st quarter valued at approximately $29,000. Finally, Citadel Advisors LLC purchased a new position in shares of Freight Technologies in the 2nd quarter valued at approximately $40,000. Institutional investors own 6.24% of the company’s stock.

Freight Technologies Company Profile

Freight Technologies, Inc, through its subsidiary, operates a transportation logistics technology platform that offers truckload freight services in the United States, Mexico, and Canada. Its Fr8App technology platform offers an online portal and a mobile application that provide third-party logistics services to companies in the freight transportation market; a transport management solution for customers to manage their own fleet; and freight brokerage support and customer services based on the platform.