Freight Technologies, Inc. (NASDAQ:FRGT) Stock Short Interest Rises 216.9%

Freight Technologies, Inc. (NASDAQ:FRGT) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totaling 553,593 shares, an increase of 216.9% from the September 30th total of 174,695 shares. Based on an average daily volume of 52,542,587 shares, the short-interest ratio is presently 0.0 days. Currently, 36.2% of the company’s stock are short sold.

Freight Technologies Stock Down 13.8%

Shares of NASDAQ FRGT opened at $1.00 on Thursday. The firm’s 50-day moving average price is $6.79 and its 200-day moving average price is $37.05. The company has a market cap of $1.68 million, a PE ratio of -0.00 and a beta of 1.19. Freight Technologies has a 52-week low of $0.79 and a 52-week high of $342.50.

Analyst Ratings Changes

FRGT has been the subject of a number of research analyst reports. Weiss Ratings raised Freight Technologies from a “sell (e)” rating to a “sell (e+)” rating in a report on Tuesday. Wall Street Zen downgraded Freight Technologies to a “strong sell” rating in a report on Saturday, October 24th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Freight Technologies Company Profile

Freight Technologies, Inc operates a technology platform designed to facilitate freight transportation and logistics, with a particular focus on cross-border shipping between the United States and Mexico. Its platform connects shippers with carriers and is intended to help businesses arrange, manage and monitor the movement of goods.

The company’s services include digital freight-matching capabilities, shipment management, tracking and transportation-related communication. By bringing logistics participants together through online tools, Freight Technologies seeks to improve visibility and efficiency in freight transactions and support the coordination of domestic and international shipments.

Freight Technologies serves customers and transportation providers involved in the North American freight market, particularly companies engaged in trade between Mexico and the United States.