Freightos Limited (NASDAQ:CRGO) Short Interest Up 43.6% in October

Freightos Limited (NASDAQ:CRGO) saw a significant growth in short interest in October. As of October 31st, there was short interest totalling 94,900 shares, a growth of 43.6% from the October 15th total of 66,100 shares. Based on an average trading volume of 66,700 shares, the short-interest ratio is presently 1.4 days. Currently, 0.5% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Separately, Oppenheimer reduced their price target on shares of Freightos from $4.50 to $3.50 and set an “outperform” rating for the company in a research report on Wednesday, August 21st.

Freightos Stock Up 0.9 %

Shares of CRGO traded up $0.02 on Friday, hitting $2.24. 63,512 shares of the stock traded hands, compared to its average volume of 35,326. The company has a market capitalization of $110.56 million, a PE ratio of -5.21 and a beta of -0.47. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.47 and a current ratio of 3.47. The business has a 50 day simple moving average of $1.50 and a 200 day simple moving average of $1.83. Freightos has a one year low of $1.27 and a one year high of $3.62.

Freightos (NASDAQ:CRGO) last posted its earnings results on Monday, August 19th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Freightos had a negative return on equity of 21.08% and a negative net margin of 95.45%. The company had revenue of $5.66 million during the quarter, compared to the consensus estimate of $5.55 million. During the same period last year, the firm posted ($0.10) EPS. As a group, equities analysts forecast that Freightos will post -0.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Freightos

A hedge fund recently bought a new stake in Freightos stock. M&G Plc acquired a new stake in shares of Freightos Limited (NASDAQ:CRGO) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,771,094 shares of the company’s stock, valued at approximately $4,339,000. M&G Plc owned 3.70% of Freightos at the end of the most recent reporting period. 22.72% of the stock is owned by hedge funds and other institutional investors.

About Freightos

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.