Freight Technologies, Inc. (NASDAQ:FRGT) Stock Short Interest Rises 216.9%

Freight Technologies, Inc. (NASDAQ:FRGT) was the recipient of a large growth in short interest in the month of October. As of October 15th, there was short interest totaling 553,593 shares, a growth of 216.9% from the September 30th total of 174,695 shares. Approximately 36.2% of the company’s stock are short sold. Based on an average daily trading volume, of 52,542,587 shares, the days-to-cover ratio is presently 0.0 days.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wall Street Zen cut shares of Freight Technologies to a “strong sell” rating in a research report on Saturday, October 24th. Weiss Ratings raised shares of Freight Technologies from a “sell (e)” rating to a “sell (e+)” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the company presently has a consensus rating of “Sell”.

Freight Technologies Stock Performance

Shares of FRGT stock opened at $1.00 on Thursday. Freight Technologies has a one year low of $0.79 and a one year high of $342.50. The company’s 50-day moving average is $6.79 and its 200 day moving average is $37.05. The company has a market capitalization of $1.68 million, a price-to-earnings ratio of -0.00 and a beta of 1.19.

About Freight Technologies

Freight Technologies, Inc operates a technology platform designed to facilitate freight transportation and logistics, with a particular focus on cross-border shipping between the United States and Mexico. Its platform connects shippers with carriers and is intended to help businesses arrange, manage and monitor the movement of goods.

The company’s services include digital freight-matching capabilities, shipment management, tracking and transportation-related communication. By bringing logistics participants together through online tools, Freight Technologies seeks to improve visibility and efficiency in freight transactions and support the coordination of domestic and international shipments.

Freight Technologies serves customers and transportation providers involved in the North American freight market, particularly companies engaged in trade between Mexico and the United States.