Freightos (NASDAQ:CRGO) Shares Down 6.4% – Time to Sell?

Shares of Freightos Limited (NASDAQ:CRGO) traded down 6.4% during mid-day trading on Monday. The company traded as low as $0.90 and last traded at $0.9097. Approximately 33,006 shares changed hands during trading, a decline of 56% from the average session volume of 75,630 shares. The stock had previously closed at $0.9715.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Freightos from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, September 18th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Freightos currently has a consensus rating of “Hold” and a consensus target price of $3.00.

Freightos Stock Down 6.2%

The firm has a 50-day simple moving average of $1.20 and a 200 day simple moving average of $1.51. The stock has a market capitalization of $41.93 million, a P/E ratio of -2.47 and a beta of 0.41. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.88 and a quick ratio of 1.88.

Freightos (NASDAQ:CRGO) last released its quarterly earnings results on Monday, August 17th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. The company had revenue of $7.69 million for the quarter, compared to analysts’ expectations of $7.32 million. Freightos had a negative return on equity of 41.63% and a negative net margin of 56.24%.

Hedge Funds Weigh In On Freightos

A hedge fund recently bought a new position in Freightos stock. GHP Investment Advisors Inc. purchased a new stake in shares of Freightos Limited (NASDAQ:CRGO) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 22,200 shares of the company’s stock, valued at approximately $36,000. Hedge funds and other institutional investors own 22.72% of the company’s stock.

About Freightos

Freightos Limited (NASDAQ: CRGO) operates a digital platform for booking and managing international freight. Its technology connects shippers and freight forwarders with transportation providers, enabling users to compare rates, schedules and service options for air, ocean and other modes of cargo transportation.

The company’s offerings include Freightos.com, a marketplace for comparing and booking freight, and WebCargo, a platform used by freight forwarders and carriers to distribute, manage and book shipping capacity digitally.