Freight Technologies (NASDAQ:FRGT) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen cut shares of Freight Technologies (NASDAQ:FRGT) to a strong sell rating in a research report report published on Saturday morning.

Separately, Weiss Ratings cut shares of Freight Technologies from a “sell (e+)” rating to a “sell (e)” rating in a research report on Friday, August 7th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Freight Technologies presently has an average rating of “Sell”.

Freight Technologies Stock Performance

Shares of FRGT opened at $1.83 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.00 and a current ratio of 1.00. Freight Technologies has a twelve month low of $1.81 and a twelve month high of $51.50. The firm’s 50 day moving average price is $3.59 and its two-hundred day moving average price is $4.52. The firm has a market cap of $1.05 million, a P/E ratio of -0.02 and a beta of 1.11.

Freight Technologies (NASDAQ:FRGT) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($57.70) earnings per share (EPS) for the quarter. Freight Technologies had a negative return on equity of 95.48% and a negative net margin of 60.49%.The company had revenue of $3.52 million for the quarter.

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.