Freight Technologies, Inc. (NASDAQ:FRGT) Short Interest Update

Freight Technologies, Inc. (NASDAQ:FRGT) saw a large decline in short interest in April. As of April 30th, there was short interest totaling 32,809 shares, a decline of 57.2% from the April 15th total of 76,611 shares. Based on an average daily trading volume, of 86,253 shares, the days-to-cover ratio is currently 0.4 days. Currently, 6.5% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wall Street Zen cut shares of Freight Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Weiss Ratings upgraded shares of Freight Technologies from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Freight Technologies currently has a consensus rating of “Sell”.

Freight Technologies Stock Performance

NASDAQ FRGT traded down $0.10 on Friday, reaching $0.51. The company had a trading volume of 189,781 shares, compared to its average volume of 100,916. The firm’s 50 day moving average price is $0.92 and its 200 day moving average price is $1.99. Freight Technologies has a 12 month low of $0.50 and a 12 month high of $20.80.

Shares of Freight Technologies are going to reverse split on the morning of Monday, May 18th. The 1-5 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, May 17th.

About Freight Technologies

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.