Freightos Limited (NASDAQ:CRGO) Short Interest Up 46.2% in August

Freightos Limited (NASDAQ:CRGO) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totalling 72,200 shares, a growth of 46.2% from the August 15th total of 49,400 shares. Based on an average daily volume of 25,300 shares, the short-interest ratio is currently 2.9 days. Currently, 0.3% of the company’s stock are sold short.

Freightos Trading Down 5.6 %

NASDAQ:CRGO opened at $1.43 on Monday. Freightos has a 52 week low of $1.40 and a 52 week high of $3.62. The firm has a 50-day moving average price of $1.70 and a two-hundred day moving average price of $2.14. The firm has a market cap of $68.96 million, a price-to-earnings ratio of -3.25 and a beta of -0.47. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.47 and a current ratio of 3.47.

Freightos (NASDAQ:CRGO) last issued its quarterly earnings results on Monday, August 19th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Freightos had a negative return on equity of 21.08% and a negative net margin of 95.45%. The business had revenue of $5.66 million for the quarter, compared to the consensus estimate of $5.55 million. During the same quarter last year, the business posted ($0.10) earnings per share. On average, equities analysts expect that Freightos will post -0.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CRGO has been the topic of a number of recent research reports. Oppenheimer dropped their target price on Freightos from $4.50 to $3.50 and set an “outperform” rating on the stock in a report on Wednesday, August 21st. Chardan Capital cut their price objective on shares of Freightos from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd.

Hedge Funds Weigh In On Freightos

A hedge fund recently bought a new stake in Freightos stock. M&G Plc bought a new stake in shares of Freightos Limited (NASDAQ:CRGO) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,771,094 shares of the company’s stock, valued at approximately $4,339,000. M&G Plc owned 3.70% of Freightos as of its most recent SEC filing. Hedge funds and other institutional investors own 22.72% of the company’s stock.

Freightos Company Profile

Freightos Limited, together with its subsidiaries, operates a vendor-neutral booking and payment platform for international freight. It operates WebCargo, a platform for connecting carriers and forwarders; and Freightos.com, a platform for connecting service providers to importers/exporters. The company also offers software-as-a-service solutions, such as WebCargo Air for airline rates and ebookings; WebCargo AcceleRate, a multi-modal rate repository; data services; and WebCargo Airline Control Panel that enables airlines to control bookings and optimize pricing with real-time booking analytics.