Freight Technologies, Inc. (NASDAQ:FRGT) Shares Shorted: Short Interest Up 88.4% in September

Freight Technologies, Inc. (NASDAQ:FRGT) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 51,686 shares, an increase of 88.4% from the August 31st total of 27,430 shares. Based on an average daily volume of 82,783 shares, the days-to-cover ratio is presently 0.6 days. Currently, 9.9% of the shares of the company are sold short.

Analysts Set New Price Targets

Several research firms recently commented on FRGT. Weiss Ratings upgraded Freight Technologies from a “sell (e)” rating to a “sell (e+)” rating in a research report on Thursday. Wall Street Zen cut Freight Technologies to a “strong sell” rating in a report on Saturday, August 15th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Freight Technologies Price Performance

Shares of FRGT stock opened at $0.33 on Tuesday. Freight Technologies has a 52 week low of $0.31 and a 52 week high of $51.25. The stock has a market capitalization of $188,100.00, a PE ratio of -0.00 and a beta of 1.05. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.00 and a current ratio of 1.00. The stock’s fifty day moving average is $1.76 and its 200-day moving average is $3.39.

About Freight Technologies

Freight Technologies, Inc is a logistics technology company focused on cross-border freight transportation between Mexico and the United States. Through its digital freight platform, Fr8App, the company connects shippers with carriers and supports the planning and management of truckload shipments.

Fr8App is designed to provide services such as freight matching, shipment quotations, transportation coordination, tracking, and communication between shippers and carriers. The platform is intended to improve visibility and efficiency in cross-border trucking by using technology to streamline traditionally manual logistics processes.

Freight Technologies primarily serves businesses involved in trade and freight movement between Mexico and the United States.