Short Interest in Freight Technologies, Inc. (NASDAQ:FRGT) Grows By 644.0%

Freight Technologies, Inc. (NASDAQ:FRGT – Get Free Report) saw a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 191,486 shares, a growth of 644.0% from the July 30th total of 25,737 shares. Based on an average daily volume of 1,491,540 shares, the days-to-cover ratio is currently 0.1 days. Approximately 36.8% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

FRGT has been the subject of a number of research analyst reports. Wall Street Zen lowered Freight Technologies to a “strong sell” rating in a research note on Saturday, August 15th. Weiss Ratings upgraded Freight Technologies from a “sell (e)” rating to a “sell (e+)” rating in a research note on Monday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

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Freight Technologies Trading Down 3.2%

Freight Technologies stock traded down $0.05 during trading hours on Thursday, hitting $1.46. The company had a trading volume of 83,285 shares, compared to its average volume of 255,863. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $833,340.00, a P/E ratio of -0.02 and a beta of 1.11. The company has a 50-day moving average price of $3.22 and a two-hundred day moving average price of $4.24. Freight Technologies has a 1 year low of $1.35 and a 1 year high of $51.50.

About Freight Technologies

(Get Free Report)

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.

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