Short Interest in Freightos Limited (NASDAQ:CRGO) Expands By 14.3%

Freightos Limited (NASDAQ:CRGO) saw a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 33,600 shares, a growth of 14.3% from the June 30th total of 29,400 shares. Based on an average trading volume of 22,300 shares, the short-interest ratio is presently 1.5 days. Currently, 0.2% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Chardan Capital dropped their price target on Freightos from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd.

Freightos Price Performance

Shares of NASDAQ:CRGO opened at $1.75 on Wednesday. The company has a quick ratio of 3.99, a current ratio of 3.99 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $2.08 and a 200 day simple moving average of $2.47. Freightos has a 12-month low of $1.42 and a 12-month high of $3.62.

Freightos (NASDAQ:CRGO) last announced its quarterly earnings results on Monday, May 20th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.05. Freightos had a negative net margin of 99.95% and a negative return on equity of 19.04%. The business had revenue of $5.36 million for the quarter, compared to analysts’ expectations of $5.26 million. On average, equities research analysts predict that Freightos will post -0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Freightos

A hedge fund recently raised its stake in Freightos stock. Seven Post Investment Office LP grew its position in shares of Freightos Limited (NASDAQ:CRGO) by 50.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 80,195 shares of the company’s stock after buying an additional 26,931 shares during the quarter. Seven Post Investment Office LP’s holdings in Freightos were worth $267,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 22.72% of the company’s stock.

About Freightos

Freightos Limited, together with its subsidiaries, operates a vendor-neutral booking and payment platform for international freight. It operates WebCargo, a platform for connecting carriers and forwarders; and Freightos.com, a platform for connecting service providers to importers/exporters. The company also offers software-as-a-service solutions, such as WebCargo Air for airline rates and ebookings; WebCargo AcceleRate, a multi-modal rate repository; data services; and WebCargo Airline Control Panel that enables airlines to control bookings and optimize pricing with real-time booking analytics.