Freightos (NASDAQ:CRGO) Issues Earnings Results

Key Points

• Freightos reported quarterly EPS of negative $0.03, beating analysts’ consensus estimate of negative $0.05 by $0.02. The company remained unprofitable, with a negative net margin of 65.65% and negative return on equity of 44.81%.
• CRGO opened at $1.35, near its 50-day moving average of $1.36, and has traded between $1.14 and $4.24 over the past year. Freightos had a market capitalization of approximately $69.4 million.
• Institutional investors own 22.72% of Freightos, with several funds adding or initiating positions. Analyst sentiment remains mixed, resulting in a consensus “Hold” rating and a $3.00 price target, while Weiss Ratings maintained a “Sell” rating.

Freightos (NASDAQ:CRGO - Get Free Report) announced its earnings results on Monday. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.05) by $0.02, Zacks reports. Freightos had a negative net margin of 65.65% and a negative return on equity of 44.81%.

Freightos Price Performance

CRGO stock opened at $1.35 on Monday. The stock has a market capitalization of $69.36 million, a P/E ratio of -3.46 and a beta of 0.36. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.85 and a current ratio of 1.85. Freightos has a one year low of $1.14 and a one year high of $4.24. The company has a 50 day moving average price of $1.36 and a two-hundred day moving average price of $1.66.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. 683 Capital Management LLC purchased a new position in Freightos during the fourth quarter worth about $327,000. Mink Brook Asset Management LLC grew its holdings in Freightos by 43.1% in the 4th quarter. Mink Brook Asset Management LLC now owns 242,352 shares of the company's stock valued at $553,000 after buying an additional 73,001 shares during the period. Jane Street Group LLC purchased a new stake in Freightos in the 4th quarter valued at about $95,000. Goldman Sachs Group Inc. acquired a new position in shares of Freightos during the 4th quarter valued at about $114,000. Finally, Millennium Management LLC increased its stake in shares of Freightos by 116.5% during the 3rd quarter. Millennium Management LLC now owns 30,711 shares of the company's stock valued at $101,000 after acquiring an additional 16,525 shares during the last quarter. Hedge funds and other institutional investors own 22.72% of the company's stock.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Freightos in a research report on Friday, July 17th. 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 company currently has an average rating of "Hold" and a consensus price target of $3.00.

About Freightos

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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