Freightos Limited (NASDAQ:CRGO) Short Interest Up 43.6% in October

Freightos Limited (NASDAQ:CRGO) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 94,900 shares, an increase of 43.6% from the October 15th total of 66,100 shares. Based on an average daily volume of 66,700 shares, the short-interest ratio is presently 1.4 days. Approximately 0.5% of the company’s stock are sold short.

Analyst Ratings Changes

Separately, Oppenheimer dropped their price target on shares of Freightos from $4.50 to $3.50 and set an “outperform” rating on the stock in a research note on Wednesday, August 21st.

Hedge Funds Weigh In On Freightos

An institutional investor recently bought a new position in Freightos stock. M&G Plc 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 SEC. The institutional investor purchased 1,771,094 shares of the company’s stock, valued at approximately $4,339,000. M&G Plc owned about 3.70% of Freightos as of its most recent SEC filing. 22.72% of the stock is owned by hedge funds and other institutional investors.

Freightos Stock Down 7.1 %

Freightos stock traded down $0.17 during mid-day trading on Thursday, reaching $2.22. The stock had a trading volume of 150,488 shares, compared to its average volume of 35,198. The company has a market capitalization of $109.58 million, a price-to-earnings ratio of -4.84 and a beta of -0.47. The company has a 50-day moving average price of $1.47 and a two-hundred day moving average price of $1.83. Freightos has a one year low of $1.27 and a one year high of $3.62. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.47 and a quick ratio of 3.47.

Freightos (NASDAQ:CRGO) last issued its earnings results on Monday, August 19th. The company reported ($0.11) earnings per share 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 during the quarter, compared to analysts’ expectations of $5.55 million. During the same period last year, the firm posted ($0.10) EPS. On average, analysts expect that Freightos will post -0.52 EPS for the current fiscal year.

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.