Freight Technologies, Inc. (NASDAQ:FRGT) Short Interest Down 73.6% in June

Freight Technologies, Inc. (NASDAQ:FRGT) was the recipient of a large decline in short interest during the month of June. As of June 30th, there was short interest totaling 23,099 shares, a decline of 73.6% from the June 15th total of 87,383 shares. Based on an average daily volume of 144,522 shares, the days-to-cover ratio is currently 0.2 days. Currently, 4.4% of the shares of the stock are short sold.

Freight Technologies Stock Up 2.7%

Shares of Freight Technologies stock traded up $0.10 during trading on Tuesday, reaching $4.07. The company had a trading volume of 13,725 shares, compared to its average volume of 181,383. Freight Technologies has a fifty-two week low of $2.51 and a fifty-two week high of $56.50. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $2.32 million, a price-to-earnings ratio of -0.05 and a beta of 1.10. The firm’s fifty day moving average is $3.97 and its 200-day moving average is $5.48.

Freight Technologies (NASDAQ:FRGT) last issued its earnings results on Thursday, May 14th. The company reported ($57.70) earnings per share (EPS) for the quarter. Freight Technologies had a negative return on equity of 95.48% and a negative net margin of 60.49%.The business had revenue of $3.52 million during the quarter.

Analyst Upgrades and Downgrades

FRGT has been the topic of a number of recent analyst reports. Wall Street Zen lowered Freight Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Weiss Ratings cut Freight Technologies from a “sell (e+)” rating to a “sell (e)” rating in a report on Tuesday, July 7th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Freight Technologies currently has an average 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.