Freight Technologies, Inc. (NASDAQ:FRGT) Short Interest Down 86.3% in December

Freight Technologies, Inc. (NASDAQ:FRGT) saw a significant decline in short interest in the month of December. As of December 15th, there was short interest totaling 92,680 shares, a decline of 86.3% from the November 30th total of 674,392 shares. Based on an average daily trading volume, of 134,786 shares, the days-to-cover ratio is currently 0.7 days. Currently, 18.5% of the company’s shares are sold short. Currently, 18.5% of the company’s shares are sold short. Based on an average daily trading volume, of 134,786 shares, the days-to-cover ratio is currently 0.7 days.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FRGT shares. Wall Street Zen raised shares of Freight Technologies to a “hold” rating in a research report on Saturday, December 13th. Weiss Ratings reaffirmed a “sell (e)” rating on shares of Freight Technologies in a research report on Monday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Freight Technologies Stock Performance

Shares of NASDAQ:FRGT traded down $0.07 during trading hours on Friday, hitting $2.06. The stock had a trading volume of 37,235 shares, compared to its average volume of 484,832. The stock’s fifty day simple moving average is $4.03 and its 200 day simple moving average is $6.58. The firm has a market capitalization of $1.13 million, a price-to-earnings ratio of -0.12 and a beta of 1.13. Freight Technologies has a 1-year low of $2.00 and a 1-year high of $69.80.

Freight Technologies (NASDAQ:FRGT) last announced its earnings results on Tuesday, December 9th. The company reported ($5.65) EPS for the quarter. The firm had revenue of $2.46 million for the quarter. Freight Technologies had a negative return on equity of 73.48% and a negative net margin of 40.28%.

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.