Short Interest in Freightos Limited (NASDAQ:CRGO) Declines By 48.6%

Freightos Limited (NASDAQ:CRGO) was the recipient of a large drop in short interest in July. As of July 31st, there was short interest totaling 72,191 shares, a drop of 48.6% from the July 15th total of 140,472 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily volume of 39,790 shares, the days-to-cover ratio is presently 1.8 days.

Analysts Set New Price Targets

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

Freightos Trading Up 23.7%

Shares of CRGO stock traded up $0.32 during mid-day trading on Monday, reaching $1.67. The company’s stock had a trading volume of 6,937,755 shares, compared to its average volume of 148,164. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $85.80 million, a PE ratio of -4.28 and a beta of 0.36. The company’s 50 day simple moving average is $1.36 and its 200-day simple moving average is $1.66. Freightos has a 12-month low of $1.14 and a 12-month high of $4.24.

Freightos (NASDAQ:CRGO) last announced its earnings results on Monday, August 17th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.02. Freightos had a negative return on equity of 44.81% and a negative net margin of 65.65%.

Institutional Investors Weigh In On Freightos

Several hedge funds and other institutional investors have recently modified their holdings of CRGO. Goldman Sachs Group Inc. bought a new position in shares of Freightos during the first quarter worth about $73,000. Jane Street Group LLC lifted its holdings in Freightos by 183.8% during the 1st quarter. Jane Street Group LLC now owns 30,788 shares of the company’s stock worth $74,000 after buying an additional 19,938 shares during the last quarter. Topline Capital Management LLC bought a new position in Freightos during the 2nd quarter worth approximately $658,000. Ancora Advisors LLC acquired a new position in shares of Freightos in the 3rd quarter worth approximately $147,000. Finally, Citadel Advisors LLC grew its position in shares of Freightos by 24.4% in 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. Institutional investors own 22.72% of the company’s stock.

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.