Freight Technologies, Inc. (NASDAQ:FRGT) Short Interest Down 60.1% in December

Freight Technologies, Inc. (NASDAQ:FRGT) was the recipient of a large decline in short interest during the month of December. As of December 31st, there was short interest totaling 37,023 shares, a decline of 60.1% from the December 15th total of 92,680 shares. Based on an average daily trading volume, of 108,359 shares, the short-interest ratio is currently 0.3 days. Approximately 7.4% of the company’s shares are sold short. Approximately 7.4% of the company’s shares are sold short. Based on an average daily trading volume, of 108,359 shares, the short-interest ratio is currently 0.3 days.

Freight Technologies Price Performance

Shares of NASDAQ:FRGT traded up $0.06 during mid-day trading on Friday, hitting $1.64. The company had a trading volume of 83,312 shares, compared to its average volume of 92,612. The firm has a fifty day moving average price of $2.93 and a 200 day moving average price of $5.69. The company has a market capitalization of $902,000.00, a PE ratio of -0.09 and a beta of 1.03. Freight Technologies has a one year low of $1.48 and a one year high of $69.80.

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

Analyst Ratings Changes

A number of equities analysts recently commented on FRGT shares. Weiss Ratings reaffirmed a “sell (e)” rating on shares of Freight Technologies in a research note on Monday, December 22nd. Wall Street Zen upgraded shares of Freight Technologies to a “hold” rating in a report on Saturday, December 13th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company 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.