Freightos Limited (NASDAQ:CRGO) Sees Significant Growth in Short Interest

Freightos Limited (NASDAQ:CRGO) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 248,700 shares, an increase of 20.6% from the February 13th total of 206,300 shares. Currently, 1.1% of the shares of the stock are sold short. Based on an average daily volume of 110,300 shares, the short-interest ratio is currently 2.3 days.

Freightos Trading Down 2.1 %

Shares of Freightos stock opened at $2.28 on Thursday. Freightos has a twelve month low of $1.27 and a twelve month high of $4.42. The firm’s 50-day moving average price is $3.34 and its 200 day moving average price is $2.39. The company has a current ratio of 2.90, a quick ratio of 2.90 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $112.54 million, a PE ratio of -6.71 and a beta of -0.09.

Freightos (NASDAQ:CRGO) last announced its earnings results on Monday, February 24th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.11). The business had revenue of $6.59 million for the quarter, compared to analyst estimates of $6.80 million. Freightos had a negative return on equity of 20.80% and a negative net margin of 71.11%. On average, sell-side analysts predict that Freightos will post -0.35 EPS for the current fiscal year.

Institutional Trading of Freightos

Institutional investors and hedge funds have recently bought and sold shares of the business. Jane Street Group LLC purchased a new position in Freightos in the fourth quarter valued at $33,000. Geode Capital Management LLC increased its holdings in shares of Freightos by 41.6% in the 4th quarter. Geode Capital Management LLC now owns 18,813 shares of the company’s stock valued at $57,000 after acquiring an additional 5,523 shares during the period. Finally, Northern Trust Corp acquired a new position in Freightos in the 4th quarter valued at about $579,000. 22.72% of the stock is currently owned by hedge funds and other institutional investors.

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.