Freightos Limited (NASDAQ:CRGO) Short Interest Update

Key Points

• Freightos short interest fell 51.9% to 66,271 shares as of August 31, representing 0.2% of shares outstanding and just 0.1 days to cover.
• Analyst sentiment remains mixed, with one Buy and one Sell rating producing a consensus “Hold” rating and a $3.00 target price. Weiss Ratings separately maintained a “Sell (D-)” rating.
• Freightos shares opened at $1.19, near their 12-month low of $1.14, while the company reported better-than-expected quarterly results: an adjusted loss of $0.03 per share and revenue of $7.69 million.

Freightos Limited (NASDAQ:CRGO - Get Free Report) was the recipient of a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 66,271 shares, a drop of 51.9% from the August 15th total of 137,799 shares. Based on an average trading volume of 692,443 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.2% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

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

Freightos Stock Performance

Shares of NASDAQ:CRGO opened at $1.19 on Monday. The company has a 50 day moving average of $1.29 and a 200-day moving average of $1.55. The firm has a market cap of $61.14 million, a P/E ratio of -3.61 and a beta of 0.38. Freightos has a twelve month low of $1.14 and a twelve month 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.

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

Institutional Trading of Freightos

Several institutional investors have recently modified their holdings of the company. Sei Investments Co. boosted its stake in Freightos by 226.8% during the first quarter. Sei Investments Co. now owns 324,902 shares of the company's stock valued at $533,000 after buying an additional 225,487 shares in the last quarter. GHP Investment Advisors Inc. bought a new stake in Freightos in the first quarter worth about $36,000. Millennium Management LLC lifted its holdings in Freightos by 103.6% in the 4th quarter. Millennium Management LLC now owns 62,530 shares of the company's stock valued at $143,000 after acquiring an additional 31,819 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in Freightos in the 4th quarter valued at about $57,000. Finally, 683 Capital Management LLC bought a new position in shares of Freightos during the 4th quarter valued at about $327,000. Institutional investors and hedge funds own 22.72% of the company's stock.

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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