Freightos Limited (NASDAQ:CRGO) Short Interest Up 90.9% in August

Key Points

• Freightos short interest surged 90.9% to 137,799 shares as of August 14, representing about 0.3% of shares outstanding and 3.5 days to cover.
• Institutional ownership stands at 22.72%, with several investment firms recently initiating positions in the company.
• Freightos reported quarterly revenue of $7.69 million and an adjusted loss of $0.03 per share, beating analyst estimates; analysts’ consensus rating remains Hold, with a $3.00 average price target.

Freightos Limited (NASDAQ:CRGO - Get Free Report) saw a significant increase in short interest in August. As of August 14th, there was short interest totaling 137,799 shares, an increase of 90.9% from the July 30th total of 72,191 shares. Based on an average daily trading volume, of 39,356 shares, the days-to-cover ratio is presently 3.5 days. Approximately 0.3% of the shares of the stock are short sold.

Institutional Investors Weigh In On Freightos

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hudson Bay Capital Management LP acquired a new stake in shares of Freightos in the 4th quarter valued at approximately $32,000. GHP Investment Advisors Inc. acquired a new position in Freightos during the first quarter worth $36,000. OMERS ADMINISTRATION Corp bought a new stake in Freightos during the fourth quarter worth $52,000. Barclays PLC bought a new stake in Freightos during the fourth quarter worth $55,000. Finally, Balyasny Asset Management L.P. acquired a new stake in Freightos in the fourth quarter valued at $57,000. 22.72% of the stock is owned by institutional investors.

Freightos Stock Up 0.8%

Shares of NASDAQ:CRGO traded up $0.01 during trading on Friday, hitting $1.31. 24,154 shares of the company's stock traded hands, compared to its average volume of 411,712. Freightos has a 52 week low of $1.14 and a 52 week high of $4.24. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.04. The company has a market cap of $67.31 million, a price-to-earnings ratio of -3.97 and a beta of 0.36. The company has a 50-day moving average price of $1.32 and a 200-day moving average price of $1.61.

Freightos (NASDAQ:CRGO - Get Free Report) last issued its quarterly earnings results on Monday, August 17th. The company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.02. Freightos had a negative return on equity of 41.63% and a negative net margin of 56.24%.The company had revenue of $7.69 million for the quarter, compared to analyst estimates of $7.32 million.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Freightos in a research report on Friday, July 17th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Freightos has an average rating of "Hold" and an average target price of $3.00.

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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