Short Interest in Freightos Limited (NASDAQ:CRGO) Rises By 33.6%

Freightos Limited (NASDAQ:CRGO) was the target of a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 44,900 shares, an increase of 33.6% from the July 15th total of 33,600 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 24,400 shares, the short-interest ratio is currently 1.8 days.

Freightos Price Performance

Shares of NASDAQ CRGO traded up $0.07 during midday trading on Thursday, reaching $1.63. The stock had a trading volume of 20,875 shares, compared to its average volume of 19,609. The stock has a 50-day moving average of $1.95 and a 200-day moving average of $2.35. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.99 and a current ratio of 3.99. The company has a market capitalization of $78.61 million, a price-to-earnings ratio of -3.70 and a beta of -0.45. 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 data on Monday, May 20th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.05. The firm had revenue of $5.36 million during the quarter, compared to analysts’ expectations of $5.26 million. Freightos had a negative net margin of 99.95% and a negative return on equity of 19.04%. As a group, research analysts anticipate that Freightos will post -0.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Trading of Freightos

A hedge fund recently bought a new stake in Freightos stock. M&G Plc bought a new position in shares of Freightos Limited (NASDAQ:CRGO) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,771,094 shares of the company’s stock, valued at approximately $4,339,000. M&G Plc owned about 3.70% of Freightos as of its most recent filing with the Securities and Exchange Commission (SEC). 22.72% of the stock is currently owned by institutional investors.

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.