Freightos Limited (NASDAQ:CRGO) Sees Large Increase in Short Interest

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

Institutional Trading of Freightos

A hedge fund recently bought a new stake in Freightos stock. M&G Plc purchased a new position in shares of Freightos Limited (NASDAQ:CRGO) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 1,771,094 shares of the company’s stock, valued at approximately $4,339,000. M&G Plc owned approximately 3.70% of Freightos at the end of the most recent reporting period. Institutional investors and hedge funds own 22.72% of the company’s stock.

Freightos Price Performance

Shares of CRGO opened at $1.37 on Monday. The business’s 50-day moving average is $1.70 and its 200-day moving average is $2.14. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.47 and a quick ratio of 3.47. The company has a market capitalization of $66.07 million, a price-to-earnings ratio of -3.25 and a beta of -0.47. Freightos has a fifty-two week low of $1.37 and a fifty-two week high of $3.62.

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

Wall Street Analysts Forecast Growth

CRGO has been the topic of a number of recent analyst reports. Chardan Capital cut their price target 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. Oppenheimer reduced their target price on Freightos from $4.50 to $3.50 and set an “outperform” rating for the company in a report on Wednesday, August 21st.

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.