Freight Technologies, Inc. (NASDAQ:FRGT) Short Interest Up 292.0% in March

Freight Technologies, Inc. (NASDAQ:FRGT) was the target of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 157,600 shares, a growth of 292.0% from the February 28th total of 40,200 shares. Currently, 7.3% of the shares of the company are short sold. Based on an average trading volume of 1,350,000 shares, the days-to-cover ratio is presently 0.1 days.

Freight Technologies Price Performance

Freight Technologies stock traded down $0.12 during trading on Friday, reaching $0.99. The company had a trading volume of 110,883 shares, compared to its average volume of 554,423. The firm’s 50-day simple moving average is $1.33 and its 200 day simple moving average is $1.45. Freight Technologies has a 52 week low of $0.93 and a 52 week high of $42.50.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Freight Technologies stock. Barclays PLC purchased a new stake in shares of Freight Technologies, Inc. (NASDAQ:FRGT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 27,362 shares of the company’s stock, valued at approximately $53,000. Barclays PLC owned approximately 1.91% of Freight Technologies at the end of the most recent reporting period. 6.24% of the stock is currently owned by hedge funds and other institutional investors.

Freight Technologies Company Profile

Freight Technologies, Inc, through its subsidiary, operates a transportation logistics technology platform for cross-border shipping in the United States and Mexico. Its Fr8App technology platform offers an online portal and a mobile application that provide third-party logistics services to companies in the freight transportation market; a transport management solution for customers to manage their own fleet; and freight brokerage support and customer services based on the platform.