Freight Technologies, Inc. (NASDAQ:FRGT) Short Interest Down 68.4% in March

Freight Technologies, Inc. (NASDAQ:FRGT) was the recipient of a significant decrease in short interest in March. As of March 13th, there was short interest totaling 107,256 shares, a decrease of 68.4% from the February 26th total of 339,271 shares. Based on an average daily volume of 277,797 shares, the short-interest ratio is presently 0.4 days. Currently, 21.4% of the shares of the stock are sold short.

Freight Technologies Stock Performance

Shares of NASDAQ:FRGT traded down $0.05 on Friday, hitting $0.99. The stock had a trading volume of 77,600 shares, compared to its average volume of 854,492. The firm’s 50 day moving average price is $1.24 and its 200-day moving average price is $3.36. Freight Technologies has a twelve month low of $0.99 and a twelve month high of $69.80. The company has a market capitalization of $544,500.00, a price-to-earnings ratio of -0.06 and a beta of 1.03.

Wall Street Analyst Weigh In

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

About Freight Technologies

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.