Freightos (NASDAQ:CRGO) Announces Earnings Results

Freightos (NASDAQ:CRGO) announced its quarterly earnings results on Monday. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02, Zacks reports. Freightos had a negative net margin of 65.65% and a negative return on equity of 44.81%.

Freightos Stock Performance

NASDAQ:CRGO opened at $1.35 on Monday. The firm’s fifty day simple moving average is $1.36 and its 200 day simple moving average is $1.66. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.04. Freightos has a twelve month low of $1.14 and a twelve month high of $4.24. The firm has a market capitalization of $69.36 million, a price-to-earnings ratio of -3.46 and a beta of 0.36.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Freightos in a report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Freightos currently has a consensus rating of “Hold” and a consensus target price of $3.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Hudson Bay Capital Management LP purchased a new stake in shares of Freightos during the 4th quarter valued at about $32,000. Citadel Advisors LLC lifted its position in Freightos by 24.4% during the 3rd quarter. Citadel Advisors LLC now owns 74,671 shares of the company’s stock worth $246,000 after acquiring an additional 14,624 shares in the last quarter. Millennium Management LLC boosted its holdings in Freightos by 116.5% in the 3rd quarter. Millennium Management LLC now owns 30,711 shares of the company’s stock worth $101,000 after acquiring an additional 16,525 shares during the period. Jane Street Group LLC boosted its holdings in Freightos by 183.8% in the 1st quarter. Jane Street Group LLC now owns 30,788 shares of the company’s stock worth $74,000 after acquiring an additional 19,938 shares during the period. Finally, OMERS ADMINISTRATION Corp acquired a new stake in Freightos in the fourth quarter valued at approximately $52,000. 22.72% of the stock is owned by hedge funds and other institutional investors.

About Freightos

Freightos, trading under the symbol CRGO on Nasdaq, operates a digital booking platform designed to streamline international freight logistics. The company’s core offering, the Freightos Marketplace, allows shippers and freight forwarders to compare and book air, ocean and trucking services online, providing rate transparency and live booking capabilities. By aggregating quotes from a global network of carriers and forwarders, Freightos enables customers to secure competitive prices and manage bookings through a single interface.

In addition to its marketplace, Freightos offers a suite of SaaS solutions for logistics professionals.