Short Interest in Freightos Limited (NASDAQ:CRGO) Drops By 47.4%

Freightos Limited (NASDAQ:CRGO - Get Free Report) was the recipient of a large decline in short interest in May. As of May 31st, there was short interest totalling 22,500 shares, a decline of 47.4% from the May 15th total of 42,800 shares. Based on an average daily volume of 62,000 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.1% of the company's stock are short sold.

Freightos Stock Down 2.2%

CRGO stock traded down $0.05 on Friday, reaching $2.18. 42,671 shares of the company traded hands, compared to its average volume of 73,167. The firm has a fifty day simple moving average of $2.20 and a 200-day simple moving average of $2.67. The company has a market cap of $108.40 million, a P/E ratio of -6.41 and a beta of 0.06. Freightos has a one year low of $1.27 and a one year high of $4.42. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.90 and a quick ratio of 2.90.

Freightos (NASDAQ:CRGO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.05. The firm had revenue of $6.95 million during the quarter, compared to the consensus estimate of $6.78 million. Freightos had a negative return on equity of 20.80% and a negative net margin of 71.11%. During the same period last year, the company earned ($0.06) earnings per share. Research analysts anticipate that Freightos will post -0.35 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CRGO. Northern Trust Corp purchased a new position in Freightos in the 4th quarter worth approximately $579,000. OMERS ADMINISTRATION Corp purchased a new stake in Freightos during the 1st quarter valued at $88,000. Goldman Sachs Group Inc. bought a new stake in shares of Freightos in the 1st quarter worth $73,000. Jane Street Group LLC raised its stake in shares of Freightos by 183.8% in the first quarter. Jane Street Group LLC now owns 30,788 shares of the company's stock worth $74,000 after purchasing an additional 19,938 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Freightos by 41.6% during the fourth quarter. Geode Capital Management LLC now owns 18,813 shares of the company's stock valued at $57,000 after purchasing an additional 5,523 shares in the last quarter. 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.