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

Freightos Limited (NASDAQ:CRGO) saw a significant increase in short interest in the month of 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 currently 1.4 days. Approximately 0.5% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

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

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 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 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 filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 22.72% of the company’s stock.

Freightos Stock Up 0.9 %

CRGO traded up $0.02 on Friday, hitting $2.24. The company had a trading volume of 63,512 shares, compared to its average volume of 35,326. 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 has a 52-week low of $1.27 and a 52-week high of $3.62. The stock has a fifty day simple moving average of $1.50 and a 200-day simple moving average of $1.83. The firm has a market capitalization of $110.56 million, a P/E ratio of -5.21 and a beta of -0.47.

Freightos (NASDAQ:CRGO) last issued its quarterly earnings data on Monday, August 19th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate 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 company had revenue of $5.66 million during the quarter, compared to analysts’ expectations of $5.55 million. During the same quarter last year, the business earned ($0.10) earnings per share. As a group, equities analysts expect that Freightos will post -0.52 EPS for the current fiscal year.

About Freightos

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.