Freight Technologies, Inc. (NASDAQ:FRGT) Stock Short Interest Jumps 238.0%

Freight Technologies, Inc. (NASDAQ:FRGT) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 174,695 shares, a growth of 238.0% from the September 15th total of 51,686 shares. Based on an average trading volume of 10,168,248 shares, the days-to-cover ratio is currently 0.0 days. Approximately 33.5% of the shares of the company are short sold.

Analyst Ratings Changes

Several research firms have commented on FRGT. Wall Street Zen lowered Freight Technologies to a “strong sell” rating in a research report on Saturday, August 15th. Weiss Ratings raised shares of Freight Technologies from a “sell (e)” rating to a “sell (e+)” rating in a report on Thursday, September 24th. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, Freight Technologies has a consensus rating of “Sell”.

Freight Technologies Trading Up 14.5%

NASDAQ:FRGT traded up $0.04 during trading hours on Friday, reaching $0.29. 103,638,926 shares of the company were exchanged, compared to its average volume of 23,795,548. The stock’s 50-day moving average is $1.27 and its 200-day moving average is $3.08. The firm has a market cap of $167,409.00, a PE ratio of -0.00 and a beta of 1.19. Freight Technologies has a twelve month low of $0.21 and a twelve month high of $51.25.

About Freight Technologies

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.