Short Interest in Freightos Limited (NASDAQ:CRGO) Expands By 97.5%

Freightos Limited (NASDAQ:CRGO) was the target of a large increase in short interest in January. As of January 31st, there was short interest totalling 271,300 shares, an increase of 97.5% from the January 15th total of 137,400 shares. Based on an average trading volume of 134,400 shares, the days-to-cover ratio is presently 2.0 days. Approximately 1.2% of the shares of the stock are short sold.

Institutional Trading of Freightos

Hedge funds and other institutional investors have recently modified their holdings of the business. Jane Street Group LLC acquired a new stake in shares of Freightos in the fourth quarter worth $33,000. Geode Capital Management LLC boosted its position in shares of Freightos by 41.6% in the fourth quarter. Geode Capital Management LLC now owns 18,813 shares of the company’s stock worth $57,000 after buying an additional 5,523 shares during the period. Finally, Northern Trust Corp acquired a new stake in shares of Freightos in the fourth quarter worth $579,000. Institutional investors and hedge funds own 22.72% of the company’s stock.

Freightos Price Performance

Shares of CRGO traded up $0.20 during trading hours on Friday, hitting $4.13. 98,464 shares of the company were exchanged, compared to its average volume of 129,603. The company has a market capitalization of $203.86 million, a PE ratio of -12.15 and a beta of -0.18. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.90 and a quick ratio of 2.90. The firm has a fifty day simple moving average of $3.24 and a 200-day simple moving average of $2.18. Freightos has a one year low of $1.27 and a one year high of $4.42.

Freightos (NASDAQ:CRGO) last released its quarterly earnings data on Monday, November 25th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.16. Freightos had a negative return on equity of 20.80% and a negative net margin of 71.11%. As a group, sell-side analysts predict that Freightos will post -0.35 earnings per share for the current year.

Freightos Company Profile

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.