Short Interest in Freightos Limited (NASDAQ:CRGO) Drops By 26.5%

Freightos Limited (NASDAQ:CRGO) saw a large drop in short interest in the month of December. As of December 31st, there was short interest totaling 46,766 shares, a drop of 26.5% from the December 15th total of 63,624 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 92,966 shares, the short-interest ratio is currently 0.5 days. Based on an average daily trading volume, of 92,966 shares, the short-interest ratio is currently 0.5 days. Approximately 0.1% of the company’s shares are sold short.

Hedge Funds Weigh In On Freightos

Several institutional investors have recently modified their holdings of CRGO. Essex Investment Management Co. LLC bought a new stake in Freightos during the 3rd quarter worth approximately $1,019,000. Topline Capital Management LLC acquired a new position in shares of Freightos in the second quarter valued at approximately $658,000. Cantor Fitzgerald L. P. bought a new stake in shares of Freightos during the third quarter worth $848,000. Mink Brook Asset Management LLC acquired a new stake in shares of Freightos during the third quarter worth $559,000. Finally, Legato Capital Management LLC bought a new stake in Freightos in the 3rd quarter valued at $295,000. Institutional investors own 22.72% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wall Street Zen cut Freightos from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Freightos in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Freightos Trading Up 2.6%

NASDAQ:CRGO traded up $0.07 during trading hours on Friday, hitting $2.77. The stock had a trading volume of 253,423 shares, compared to its average volume of 93,412. The business’s 50 day moving average is $2.86 and its 200-day moving average is $3.05. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.02 and a current ratio of 2.02. The company has a market cap of $142.06 million, a price-to-earnings ratio of -5.77 and a beta of 0.18. Freightos has a one year low of $1.72 and a one year high of $4.42.

Freightos (NASDAQ:CRGO) last announced its quarterly earnings results on Monday, November 17th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). Freightos had a negative return on equity of 47.17% and a negative net margin of 82.31%.The firm had revenue of $7.67 million for the quarter, compared to the consensus estimate of $7.64 million. Sell-side analysts anticipate that Freightos will post -0.35 EPS for the current fiscal year.

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.