Freight Technologies, Inc. (NASDAQ:FRGT – Get Free Report) was the recipient of a large growth in short interest in August. As of August 14th, there was short interest totaling 191,486 shares, a growth of 644.0% from the July 30th total of 25,737 shares. Currently, 36.8% of the company’s shares are sold short. Based on an average daily trading volume, of 1,491,540 shares, the short-interest ratio is presently 0.1 days.
Freight Technologies Stock Performance
NASDAQ FRGT opened at $1.51 on Wednesday. The company has a fifty day moving average price of $3.26 and a 200-day moving average price of $4.27. The firm has a market cap of $860,700.00, a price-to-earnings ratio of -0.02 and a beta of 1.11. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.00 and a quick ratio of 1.00. Freight Technologies has a 1 year low of $1.47 and a 1 year high of $51.50.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Freight Technologies from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday. Wall Street Zen cut shares of Freight Technologies to a “strong sell” rating in a report on Saturday, August 15th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.
About Freight Technologies
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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