Freight Technologies, Inc. (NASDAQ:FRGT – Get Free Report) was the target of a significant increase in short interest in September. As of September 30th, there was short interest totaling 174,695 shares, an increase of 238.0% from the September 15th total of 51,686 shares. Approximately 33.5% of the company’s stock are short sold. Based on an average trading volume of 10,168,248 shares, the short-interest ratio is currently 0.0 days.
Freight Technologies Price Performance
NASDAQ:FRGT traded up $0.06 during trading hours on Monday, hitting $0.35. 100,216,279 shares of the company traded hands, compared to its average volume of 29,007,286. The firm’s 50-day simple moving average is $1.21 and its 200-day simple moving average is $3.03. Freight Technologies has a one year low of $0.21 and a one year high of $51.25.
Analysts Set New Price Targets
Several research firms have weighed in on FRGT. Weiss Ratings upgraded shares of Freight Technologies from a “sell (e)” rating to a “sell (e+)” rating in a report on Thursday, September 24th. Wall Street Zen cut shares of Freight Technologies to a “strong sell” rating in a report on Saturday, August 15th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock presently has an average rating of “Sell”.
Freight Technologies Company Profile
Freight Technologies, Inc is a technology company that operates a digital freight-matching and logistics platform serving cross-border transportation markets in North America. Its platform is designed to connect shippers with carriers and help businesses arrange the movement of goods between Mexico, the United States and Canada.
The company’s Freight App provides tools for requesting freight quotes, booking transportation, tracking shipments and managing related logistics processes. By bringing shippers and transportation providers together through a digital platform, Freight Technologies seeks to improve visibility, efficiency and coordination in cross-border freight operations.
Freight Technologies focuses primarily on business-to-business freight transportation and logistics services.
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