Freight Technologies, Inc. (NASDAQ:FRGT) Sees Significant Growth in Short Interest

Freight Technologies, Inc. (NASDAQ:FRGT) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 130,100 shares, a growth of 350.2% from the November 30th total of 28,900 shares. Based on an average trading volume of 427,600 shares, the days-to-cover ratio is presently 0.3 days. Currently, 6.5% of the shares of the company are sold short.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Freight Technologies stock. Barclays PLC bought a new stake in Freight Technologies, Inc. (NASDAQ:FRGT) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 27,362 shares of the company’s stock, valued at approximately $53,000. Barclays PLC owned 1.91% of Freight Technologies at the end of the most recent quarter. Institutional investors and hedge funds own 6.24% of the company’s stock.

Freight Technologies Stock Performance

Shares of NASDAQ:FRGT traded up $0.03 on Thursday, hitting $1.94. 41,196 shares of the company were exchanged, compared to its average volume of 214,024. The company’s 50 day moving average price is $1.66 and its two-hundred day moving average price is $0.93. Freight Technologies has a one year low of $1.30 and a one year high of $97.05.

Freight Technologies Company Profile

Freight Technologies, Inc, through its subsidiary, operates a transportation logistics technology platform for cross-border shipping in the United States and Mexico. Its Fr8App technology platform offers an online portal and a mobile application that provide third-party logistics services to companies in the freight transportation market; a transport management solution for customers to manage their own fleet; and freight brokerage support and customer services based on the platform.