Freight Technologies, Inc. (NASDAQ:FRGT) Short Interest Up 267.1% in February

Freight Technologies, Inc. (NASDAQ:FRGT) was the recipient of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 339,271 shares, a growth of 267.1% from the February 12th total of 92,431 shares. Based on an average trading volume of 2,402,529 shares, the short-interest ratio is currently 0.1 days. Approximately 67.7% of the company’s shares are short sold. Approximately 67.7% of the company’s shares are short sold. Based on an average trading volume of 2,402,529 shares, the short-interest ratio is currently 0.1 days.

Freight Technologies Trading Down 5.0%

NASDAQ:FRGT traded down $0.06 during midday trading on Friday, reaching $1.15. The company had a trading volume of 103,506 shares, compared to its average volume of 1,002,098. Freight Technologies has a 12-month low of $1.03 and a 12-month high of $69.80. The firm has a market capitalization of $632,500.00, a price-to-earnings ratio of -0.07 and a beta of 1.03. The stock’s fifty day simple moving average is $1.40 and its 200-day simple moving average is $3.72.

Freight Technologies (NASDAQ:FRGT) last announced its quarterly earnings data on Tuesday, December 9th. The company reported ($5.65) EPS for the quarter. The firm had revenue of $2.46 million during the quarter. Freight Technologies had a negative net margin of 40.28% and a negative return on equity of 73.48%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FRGT. Wall Street Zen raised shares of Freight Technologies to a “hold” rating in a research note on Saturday, December 13th. Weiss Ratings reissued a “sell (e)” rating on shares of Freight Technologies in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Freight Technologies has a consensus 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.