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

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

Analyst Ratings Changes

FRGT has been the topic of a number of research reports. Weiss Ratings upgraded Freight Technologies from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, May 8th. Wall Street Zen cut Freight Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Freight Technologies has a consensus rating of “Sell”.

Freight Technologies Stock Performance

Freight Technologies stock traded down $0.10 during mid-day trading on Friday, hitting $0.51. 189,781 shares of the company’s stock traded hands, compared to its average volume of 107,879. The firm has a 50 day moving average price of $0.92 and a 200 day moving average price of $1.96. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.10. The company has a market cap of $290,757.00, a PE ratio of -0.03 and a beta of 1.05. Freight Technologies has a one year low of $0.50 and a one year high of $20.80.

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

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.