Freight Technologies (NASDAQ:FRGT) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Freight Technologies (NASDAQ:FRGT) from a hold rating to a sell rating in a report published on Saturday.

Separately, Weiss Ratings reissued a “sell (e)” rating on shares of Freight Technologies in a research note on Monday, December 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Freight Technologies Stock Performance

Shares of NASDAQ:FRGT opened at $0.82 on Friday. The firm has a 50 day simple moving average of $1.21 and a 200 day simple moving average of $3.23. Freight Technologies has a 52 week low of $0.75 and a 52 week high of $69.80. The company has a market cap of $451,000.00, a PE ratio of -0.05 and a beta of 1.03.

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.