Freightos Limited (NASDAQ:CRGO) Short Interest Up 107.2% in March

Key Points

• Short interest surged 107.2% in March to 262,111 shares, equal to about 0.6% of the stock and a days-to-cover ratio of 1.2 based on average daily volume.
• CRGO trades near $1.59 with a market cap of roughly $81.7M; the company beat EPS estimates at (‑$0.07) but remains unprofitable (‑59.46% net margin), and analysts are mixed with an average target of $3.00.

Freightos Limited (NASDAQ:CRGO - Get Free Report) saw a significant increase in short interest in March. As of March 31st, there was short interest totaling 262,111 shares, an increase of 107.2% from the March 15th total of 126,482 shares. Based on an average daily trading volume, of 222,012 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.6% of the shares of the stock are short sold.

Freightos Trading Down 1.2%

CRGO stock traded down $0.02 during midday trading on Friday, reaching $1.59. The stock had a trading volume of 49,667 shares, compared to its average volume of 158,906. The business has a fifty day simple moving average of $1.67 and a two-hundred day simple moving average of $2.56. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.04. The firm has a market cap of $81.69 million, a price-to-earnings ratio of -4.54 and a beta of 0.07. Freightos has a twelve month low of $1.17 and a twelve month high of $4.24.

Freightos (NASDAQ:CRGO - Get Free Report) last announced its quarterly earnings data on Monday, February 23rd. The company reported ($0.07) EPS for the quarter, topping analysts' consensus estimates of ($0.08) by $0.01. Freightos had a negative return on equity of 37.28% and a negative net margin of 59.46%.The firm had revenue of $7.41 million during the quarter, compared to analyst estimates of $7.47 million. As a group, research analysts expect that Freightos will post -0.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CRGO has been the subject of a number of research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Freightos in a research report on Wednesday, January 21st. Craig Hallum reiterated a "buy" rating and issued a $3.00 price objective on shares of Freightos in a research report on Tuesday, February 24th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $3.00.

Hedge Funds Weigh In On Freightos

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hudson Bay Capital Management LP bought a new position in Freightos during the fourth quarter worth about $32,000. Citadel Advisors LLC boosted its holdings in Freightos by 24.4% during the third quarter. Citadel Advisors LLC now owns 74,671 shares of the company's stock worth $246,000 after buying an additional 14,624 shares during the last quarter. Millennium Management LLC boosted its holdings in Freightos by 116.5% during the third quarter. Millennium Management LLC now owns 30,711 shares of the company's stock worth $101,000 after buying an additional 16,525 shares during the last quarter. Jane Street Group LLC boosted its holdings in Freightos by 183.8% during the first quarter. Jane Street Group LLC now owns 30,788 shares of the company's stock worth $74,000 after buying an additional 19,938 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new position in Freightos during the fourth quarter worth about $52,000. Institutional investors own 22.72% of the company's stock.

Freightos Company Profile

Freightos, trading under the symbol CRGO on Nasdaq, operates a digital booking platform designed to streamline international freight logistics. The company's core offering, the Freightos Marketplace, allows shippers and freight forwarders to compare and book air, ocean and trucking services online, providing rate transparency and live booking capabilities. By aggregating quotes from a global network of carriers and forwarders, Freightos enables customers to secure competitive prices and manage bookings through a single interface.

In addition to its marketplace, Freightos offers a suite of SaaS solutions for logistics professionals.

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