Freightos Limited (NASDAQ:CRGO – Get Free Report) was the recipient of a significant drop in short interest in August. As of August 31st, there was short interest totaling 66,271 shares, a drop of 51.9% from the August 15th total of 137,799 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 692,443 shares, the short-interest ratio is presently 0.1 days.
Institutional Investors Weigh In On Freightos
Hedge funds have recently made changes to their positions in the company. 683 Capital Management LLC purchased a new position in Freightos during the 4th quarter worth approximately $327,000. Citadel Advisors LLC boosted its position in shares of Freightos by 24.4% in the third quarter. Citadel Advisors LLC now owns 74,671 shares of the company’s stock worth $246,000 after buying an additional 14,624 shares during the period. Ancora Advisors LLC purchased a new position in shares of Freightos during the third quarter valued at $147,000. Millennium Management LLC grew its holdings in shares of Freightos by 103.6% during the fourth quarter. Millennium Management LLC now owns 62,530 shares of the company’s stock valued at $143,000 after buying an additional 31,819 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in Freightos during the fourth quarter valued at $95,000. Hedge funds and other institutional investors own 22.72% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Freightos in a report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Freightos currently has a consensus rating of “Hold” and an average target price of $3.00.
Freightos Stock Performance
NASDAQ:CRGO opened at $1.19 on Monday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.04. Freightos has a 1-year low of $1.14 and a 1-year high of $4.24. The firm has a market capitalization of $61.14 million, a price-to-earnings ratio of -3.61 and a beta of 0.38. The stock has a fifty day simple moving average of $1.29 and a 200 day simple moving average of $1.55.
Freightos (NASDAQ:CRGO – Get Free Report) last posted its quarterly earnings data on Monday, August 17th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. Freightos had a negative return on equity of 41.63% and a negative net margin of 56.24%.The firm had revenue of $7.69 million for the quarter, compared to the consensus estimate of $7.32 million.
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.
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