Freight Technologies, Inc. (NASDAQ:FRGT – Get Free Report) was the target of a large decline in short interest during the month of August. As of August 31st, there was short interest totaling 27,430 shares, a decline of 85.7% from the August 15th total of 191,486 shares. Approximately 5.3% of the company’s stock are sold short. Based on an average daily volume of 124,742 shares, the short-interest ratio is currently 0.2 days.
Freight Technologies Stock Performance
FRGT traded down $0.11 on Friday, reaching $0.87. The company had a trading volume of 133,298 shares, compared to its average volume of 124,676. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.10. Freight Technologies has a 1 year low of $0.84 and a 1 year high of $51.50. The stock has a market capitalization of $497,640.00, a PE ratio of -0.01 and a beta of 1.05. The stock has a 50-day moving average price of $2.52 and a 200-day moving average price of $3.80.
Wall Street Analyst Weigh In
Several research firms recently commented on FRGT. Wall Street Zen lowered Freight Technologies to a “strong sell” rating in a report on Saturday, August 15th. Weiss Ratings cut Freight Technologies from a “sell (e+)” rating to a “sell (e)” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company 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.
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