Freight Technologies, Inc. (NASDAQ:FRGT) Short Interest Down 16.7% in January

Freight Technologies, Inc. (NASDAQ:FRGT) was the target of a large decrease in short interest during the month of January. As of January 15th, there was short interest totaling 30,853 shares, a decrease of 16.7% from the December 31st total of 37,023 shares. Approximately 6.2% of the shares of the stock are sold short. Based on an average trading volume of 93,225 shares, the days-to-cover ratio is presently 0.3 days. Based on an average trading volume of 93,225 shares, the days-to-cover ratio is presently 0.3 days. Approximately 6.2% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Wall Street Zen raised Freight Technologies to a “hold” rating in a report on Saturday, December 13th. Weiss Ratings reissued a “sell (e)” rating on shares of Freight Technologies in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Freight Technologies Stock Performance

NASDAQ:FRGT traded up $0.01 during mid-day trading on Monday, reaching $1.26. The stock had a trading volume of 17,831 shares, compared to its average volume of 591,513. The stock has a market capitalization of $690,250.00, a P/E ratio of -0.07 and a beta of 1.07. The firm has a 50 day moving average price of $2.38 and a two-hundred day moving average price of $5.03. Freight Technologies has a one year low of $1.21 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 business 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.