Freight Technologies, Inc. (NASDAQ:FRGT – Get Free Report) saw a large decrease in short interest in the month of August. As of August 31st, there was short interest totaling 27,430 shares, a decrease of 85.7% from the August 15th total of 191,486 shares. Based on an average trading volume of 124,742 shares, the short-interest ratio is currently 0.2 days. Currently, 5.3% of the shares of the stock are short sold.
Freight Technologies Stock Performance
Freight Technologies stock opened at $0.87 on Friday. 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 stock has a market cap of $495,900.00, a PE ratio of -0.01 and a beta of 1.05. Freight Technologies has a 12-month low of $0.84 and a 12-month high of $51.50. The business’s 50-day moving average price is $2.52 and its two-hundred day moving average price is $3.80.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on FRGT. Wall Street Zen cut shares of Freight Technologies to a “strong sell” rating in a research note on Saturday, August 15th. Weiss Ratings cut Freight Technologies from a “sell (e+)” rating to a “sell (e)” rating in a research note on Wednesday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average 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.
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