Freight Technologies (NASDAQ:FRGT) Stock Rating Lowered by Wall Street Zen

Freight Technologies (NASDAQ:FRGT) was downgraded by stock analysts at Wall Street Zen to a “strong sell” rating in a report released on Saturday.

Separately, Weiss Ratings lowered shares of Freight Technologies from a “sell (e+)” rating to a “sell (e)” rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Freight Technologies Stock Performance

Shares of FRGT stock opened at $1.83 on Friday. The company’s fifty day simple moving average is $3.59 and its 200-day simple moving average is $4.50. Freight Technologies has a 52 week low of $1.81 and a 52 week high of $51.50. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.10. The company has a market cap of $1.04 million, a PE ratio of -0.02 and a beta of 1.11.

Freight Technologies (NASDAQ:FRGT) last released its quarterly earnings results on Thursday, May 14th. The company reported ($57.70) EPS for the quarter. The business had revenue of $3.52 million during the quarter. Freight Technologies had a negative return on equity of 95.48% and a negative net margin of 60.49%.

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.