Freightos Limited (NASDAQ:CRGO) Sees Large Drop in Short Interest

Freightos Limited (NASDAQ:CRGO) saw a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 72,191 shares, a decrease of 48.6% from the July 15th total of 140,472 shares. Based on an average daily trading volume, of 39,790 shares, the days-to-cover ratio is presently 1.8 days. Approximately 0.2% of the company’s shares are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Freightos in a research report on Friday, July 17th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $3.00.

Institutional Investors Weigh In On Freightos

Large investors have recently bought and sold shares of the stock. Essex Investment Management Co. LLC increased its stake in Freightos by 100.3% in the fourth quarter. Essex Investment Management Co. LLC now owns 618,564 shares of the company’s stock valued at $1,410,000 after purchasing an additional 309,746 shares in the last quarter. Topline Capital Management LLC bought a new position in shares of Freightos during the 2nd quarter worth about $658,000. Sei Investments Co. grew its stake in shares of Freightos by 226.8% in the 1st quarter. Sei Investments Co. now owns 324,902 shares of the company’s stock valued at $533,000 after buying an additional 225,487 shares during the period. 683 Capital Management LLC acquired a new stake in shares of Freightos in the 4th quarter valued at about $327,000. Finally, Legato Capital Management LLC increased its position in Freightos by 125.5% in the 4th quarter. Legato Capital Management LLC now owns 201,889 shares of the company’s stock valued at $460,000 after buying an additional 112,348 shares in the last quarter. 22.72% of the stock is currently owned by institutional investors and hedge funds.

Freightos Trading Up 2.3%

Shares of Freightos stock traded up $0.03 on Friday, reaching $1.35. 44,022 shares of the company’s stock were exchanged, compared to its average volume of 34,827. The company has a market capitalization of $69.36 million, a P/E ratio of -3.46 and a beta of 0.36. Freightos has a 52 week low of $1.14 and a 52 week high of $4.24. The firm’s 50-day moving average is $1.36 and its two-hundred day moving average is $1.66. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.85 and a current ratio of 1.85.

Freightos (NASDAQ:CRGO) last announced its quarterly earnings data on Tuesday, May 26th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.05). The company had revenue of $7.16 million for the quarter, compared to analyst estimates of $7.45 million. Freightos had a negative return on equity of 44.81% and a negative net margin of 65.65%.

About Freightos

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.