Essex Investment Management Co. LLC Invests $1.02 Million in Freightos Limited $CRGO

Essex Investment Management Co. LLC acquired a new position in shares of Freightos Limited (NASDAQ:CRGO) in the third quarter, Holdings Channel reports. The firm acquired 308,818 shares of the company’s stock, valued at approximately $1,019,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. bought a new position in Freightos in the first quarter worth about $73,000. Jane Street Group LLC boosted its holdings in shares of Freightos by 183.8% in the 1st quarter. Jane Street Group LLC now owns 30,788 shares of the company’s stock valued at $74,000 after buying an additional 19,938 shares in the last quarter. Finally, Topline Capital Management LLC purchased a new position in shares of Freightos in the 2nd quarter worth approximately $658,000. Hedge funds and other institutional investors own 22.72% of the company’s stock.

Analyst Upgrades and Downgrades

CRGO has been the subject of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Freightos in a research note on Wednesday, January 21st. Wall Street Zen lowered shares of Freightos from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Freightos Stock Performance

Shares of Freightos stock opened at $2.08 on Wednesday. The company has a 50 day moving average price of $2.49 and a 200 day moving average price of $3.04. The firm has a market capitalization of $106.68 million, a P/E ratio of -4.33 and a beta of 0.17. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.02. Freightos Limited has a 52 week low of $1.72 and a 52 week high of $4.25.

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