Freightos (NASDAQ:CRGO) PT Lowered to $6.00

Freightos (NASDAQ:CRGO) had its target price dropped by Chardan Capital from $8.00 to $6.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Chardan Capital’s price objective would indicate a potential upside of 147.93% from the stock’s current price.

Freightos Stock Performance

Shares of CRGO stock traded up $0.15 during trading hours on Thursday, hitting $2.42. The company’s stock had a trading volume of 8,772 shares, compared to its average volume of 16,955. The company has a current ratio of 3.99, a quick ratio of 4.90 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average of $2.47 and a 200 day moving average of $2.84. Freightos has a 12-month low of $1.85 and a 12-month high of $4.58. The stock has a market cap of $115.92 million, a PE ratio of -5.20 and a beta of -0.36.

Freightos (NASDAQ:CRGO) last posted its quarterly earnings data on Monday, February 26th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.11. The company had revenue of $5.26 million during the quarter, compared to analysts’ expectations of $5.21 million. Freightos had a negative net margin of 99.95% and a negative return on equity of 19.04%. On average, sell-side analysts forecast that Freightos will post -0.42 EPS for the current fiscal year.

Institutional Trading of Freightos

Hedge funds have recently made changes to their positions in the business. AlphaCore Capital LLC grew its position in shares of Freightos by 100.0% during the third quarter. AlphaCore Capital LLC now owns 47,772 shares of the company’s stock worth $110,000 after acquiring an additional 23,886 shares during the last quarter. 683 Capital Management LLC acquired a new position in shares of Freightos during the 3rd quarter worth $25,000. Seven Post Investment Office LP raised its stake in shares of Freightos by 50.6% during the 4th quarter. Seven Post Investment Office LP now owns 80,195 shares of the company’s stock worth $267,000 after buying an additional 26,931 shares during the last quarter. Finally, M&G Plc acquired a new position in Freightos in the 1st quarter valued at about $4,339,000. Institutional investors and hedge funds own 22.72% of the company’s stock.

Freightos Company Profile

Freightos Limited, together with its subsidiaries, operates a vendor-neutral booking and payment platform for international freight. It operates WebCargo, a platform for connecting carriers and forwarders; and Freightos.com, a platform for connecting service providers to importers/exporters. The company also offers software-as-a-service solutions, such as WebCargo Air for airline rates and ebookings; WebCargo AcceleRate, a multi-modal rate repository; data services; and WebCargo Airline Control Panel that enables airlines to control bookings and optimize pricing with real-time booking analytics.