Freightos Limited (NASDAQ:CRGO) Sees Significant Drop in Short Interest

Freightos Limited (NASDAQ:CRGO) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totaling 66,271 shares, a decrease of 51.9% from the August 15th total of 137,799 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average trading volume of 692,443 shares, the short-interest ratio is presently 0.1 days.

Hedge Funds Weigh In On Freightos

Large investors have recently bought and sold shares of the stock. Sei Investments Co. raised its position in shares of Freightos by 226.8% during the 1st quarter. Sei Investments Co. now owns 324,902 shares of the company’s stock worth $533,000 after buying an additional 225,487 shares in the last quarter. GHP Investment Advisors Inc. acquired a new position in Freightos during the first quarter worth about $36,000. Finally, Legato Capital Management LLC raised its holdings in shares of Freightos by 125.5% in the 4th quarter. Legato Capital Management LLC now owns 201,889 shares of the company’s stock worth $460,000 after purchasing an additional 112,348 shares in the last quarter. Institutional investors and hedge funds own 22.72% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Freightos in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Freightos currently has an average rating of “Hold” and an average target price of $3.00.

Freightos Stock Performance

CRGO stock traded down $0.03 on Tuesday, reaching $1.11. The company’s stock had a trading volume of 76,726 shares, compared to its average volume of 140,131. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.88 and a quick ratio of 1.88. Freightos has a 52 week low of $1.05 and a 52 week high of $4.24. The firm has a fifty day moving average of $1.28 and a two-hundred day moving average of $1.55. The company has a market capitalization of $57.03 million, a P/E ratio of -3.36 and a beta of 0.38.

Freightos (NASDAQ:CRGO) last released its quarterly earnings results on Monday, August 17th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. The company had revenue of $7.69 million during the quarter, compared to analysts’ expectations of $7.32 million. Freightos had a negative return on equity of 41.63% and a negative net margin of 56.24%.

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.