Freightos Limited (NASDAQ:CRGO) Short Interest Down 26.5% in December

Freightos Limited (NASDAQ:CRGO) was the target of a large decline in short interest in December. As of December 31st, there was short interest totaling 46,766 shares, a decline of 26.5% from the December 15th total of 63,624 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 92,966 shares, the days-to-cover ratio is currently 0.5 days. Based on an average daily trading volume, of 92,966 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.1% of the shares of the stock are sold short.

Freightos Price Performance

CRGO stock traded up $0.07 during midday trading on Monday, reaching $2.77. The company had a trading volume of 253,423 shares, compared to its average volume of 93,412. The stock has a 50 day moving average price of $2.86 and a 200-day moving average price of $3.06. Freightos has a 1-year low of $1.72 and a 1-year high of $4.42. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.02 and a quick ratio of 2.02. The company has a market capitalization of $142.07 million, a price-to-earnings ratio of -5.77 and a beta of 0.18.

Freightos (NASDAQ:CRGO) last issued its earnings results on Monday, November 17th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.02). Freightos had a negative return on equity of 47.17% and a negative net margin of 82.31%.The business had revenue of $7.67 million for the quarter, compared to analyst estimates of $7.64 million. Equities research analysts expect that Freightos will post -0.35 earnings per share for the current year.

Hedge Funds Weigh In On Freightos

Institutional investors have recently made changes to their positions in the stock. Essex Investment Management Co. LLC acquired a new position in Freightos during the 3rd quarter worth approximately $1,019,000. Topline Capital Management LLC purchased a new position in shares of Freightos in the 2nd quarter worth approximately $658,000. Cantor Fitzgerald L. P. bought a new position in Freightos in the 3rd quarter valued at $848,000. Mink Brook Asset Management LLC purchased a new stake in Freightos during the third quarter worth about $559,000. Finally, Legato Capital Management LLC purchased a new position in Freightos in the third quarter valued at approximately $295,000. Institutional investors and hedge funds own 22.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CRGO shares. Wall Street Zen cut shares of Freightos from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Freightos in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Freightos presently has an average rating of “Sell”.

Freightos Company Profile

Freightos, trading under the symbol CRGO on Nasdaq, operates a digital booking platform designed to streamline international freight logistics. The company’s core offering, the Freightos Marketplace, allows shippers and freight forwarders to compare and book air, ocean and trucking services online, providing rate transparency and live booking capabilities. By aggregating quotes from a global network of carriers and forwarders, Freightos enables customers to secure competitive prices and manage bookings through a single interface.

In addition to its marketplace, Freightos offers a suite of SaaS solutions for logistics professionals.