Short Interest in Freightos Limited (NASDAQ:CRGO) Increases By 90.9%

Freightos Limited (NASDAQ:CRGO) was the recipient of a significant increase in short interest during the month of August. As of August 14th, there was short interest totaling 137,799 shares, an increase of 90.9% from the July 30th total of 72,191 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 39,356 shares, the days-to-cover ratio is currently 3.5 days.

Analyst Ratings Changes

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

Freightos Price Performance

CRGO stock opened at $1.28 on Tuesday. The company has a market capitalization of $65.77 million, a P/E ratio of -3.88 and a beta of 0.36. The company has a fifty day moving average price of $1.32 and a 200-day moving average price of $1.60. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.88 and a current ratio of 1.88. Freightos has a 52-week low of $1.14 and a 52-week high of $4.24.

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

Institutional Trading of Freightos

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP acquired a new position in shares of Freightos in the 4th quarter worth approximately $32,000. GHP Investment Advisors Inc. acquired a new position in Freightos in the first quarter valued at $36,000. OMERS ADMINISTRATION Corp acquired a new position in Freightos in the fourth quarter valued at $52,000. Barclays PLC bought a new stake in Freightos during the fourth quarter valued at $55,000. Finally, Balyasny Asset Management L.P. acquired a new stake in Freightos during the 4th quarter worth about $57,000. Institutional investors and hedge funds own 22.72% of the company’s stock.

Freightos Company Profile

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.