Short Interest in Freightos Limited (NASDAQ:CRGO) Declines By 24.0%

Freightos Limited (NASDAQ:CRGO) was the target of a significant drop in short interest in the month of February. As of February 15th, there was short interest totalling 206,300 shares, a drop of 24.0% from the January 31st total of 271,300 shares. Based on an average daily trading volume, of 112,700 shares, the short-interest ratio is presently 1.8 days. Approximately 0.9% of the company’s stock are sold short.

Freightos Price Performance

CRGO opened at $2.44 on Thursday. The stock has a market cap of $120.44 million, a price-to-earnings ratio of -7.18 and a beta of -0.09. Freightos has a 1 year low of $1.27 and a 1 year high of $4.42. The company has a current ratio of 2.90, a quick ratio of 2.90 and a debt-to-equity ratio of 0.01. The stock has a fifty day moving average price of $3.49 and a 200 day moving average price of $2.34.

Freightos (NASDAQ:CRGO) last released its quarterly earnings data on Monday, February 24th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.11). The firm had revenue of $6.59 million for the quarter, compared to analyst estimates of $6.80 million. Freightos had a negative net margin of 71.11% and a negative return on equity of 20.80%. Analysts forecast that Freightos will post -0.35 EPS for the current fiscal year.

Institutional Trading of Freightos

A number of institutional investors have recently bought and sold shares of the company. Jane Street Group LLC acquired a new stake in Freightos during the fourth quarter valued at $33,000. Northern Trust Corp acquired a new stake in Freightos during the fourth quarter valued at $579,000. Finally, Geode Capital Management LLC boosted its position in Freightos by 41.6% during the fourth quarter. Geode Capital Management LLC now owns 18,813 shares of the company’s stock valued at $57,000 after purchasing an additional 5,523 shares during the last quarter. Institutional investors and hedge funds own 22.72% of the company’s stock.

Freightos Company Profile

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.