Freightos (NASDAQ:CRGO) Trading Down 5.3% – Here’s Why

Freightos Limited (NASDAQ:CRGO) shares fell 5.3% during mid-day trading on Friday . The stock traded as low as $1.25 and last traded at $1.26. Approximately 11,350 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 58,186 shares. The stock had previously closed at $1.33.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Freightos in a research report on Friday, July 17th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $3.00.

Freightos Stock Down 5.3%

The company’s fifty day simple moving average is $1.56 and its 200-day simple moving average is $1.79. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.85 and a quick ratio of 1.85. The firm has a market capitalization of $64.74 million, a PE ratio of -3.23 and a beta of 0.33.

Freightos (NASDAQ:CRGO) last issued its quarterly earnings results on Tuesday, May 26th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.05). Freightos had a negative return on equity of 44.81% and a negative net margin of 65.65%.The business had revenue of $7.16 million for the quarter, compared to analyst estimates of $7.45 million.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Essex Investment Management Co. LLC raised its stake in Freightos by 100.3% in the fourth quarter. Essex Investment Management Co. LLC now owns 618,564 shares of the company’s stock valued at $1,410,000 after buying an additional 309,746 shares during the last quarter. Topline Capital Management LLC purchased a new stake in shares of Freightos during the second quarter worth about $658,000. Sei Investments Co. grew its stake in shares of Freightos by 226.8% during the first quarter. Sei Investments Co. now owns 324,902 shares of the company’s stock worth $533,000 after acquiring an additional 225,487 shares during the last quarter. 683 Capital Management LLC acquired a new position in shares of Freightos during the fourth quarter valued at about $327,000. Finally, Legato Capital Management LLC increased its holdings in shares of Freightos by 125.5% during the fourth quarter. Legato Capital Management LLC now owns 201,889 shares of the company’s stock valued at $460,000 after acquiring an additional 112,348 shares in the last quarter. 22.72% of the stock is owned by institutional investors and hedge funds.

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.