Freight Technologies, Inc. (NASDAQ:FRGT) Sees Large Increase in Short Interest

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. Currently, 36.2% of the shares of the stock are sold short. Based on an average trading volume of 52,542,587 shares, the short-interest ratio is currently 0.0 days.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FRGT. Wall Street Zen lowered Freight Technologies to a “strong sell” rating in a research note on Saturday, October 24th. Weiss Ratings raised shares of Freight Technologies from a “sell (e)” rating to a “sell (e+)” rating in a research report on Tuesday. One 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 Stock Performance

Shares of Freight Technologies stock traded up $0.15 on Friday, hitting $1.09. The stock had a trading volume of 4,801,797 shares, compared to its average volume of 508,137. Freight Technologies has a twelve month low of $0.79 and a twelve month high of $342.50. The firm has a market capitalization of $1.83 million, a P/E ratio of -0.00 and a beta of 1.19. The stock has a 50 day moving average of $6.46 and a 200 day moving average of $36.56.

About Freight Technologies

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.