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

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

Analyst Ratings Changes

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

Freightos Trading Up 0.9 %

CRGO stock traded up $0.02 during trading on Friday, reaching $2.24. 63,512 shares of the stock traded hands, compared to its average volume of 35,326. The business’s 50 day moving average price is $1.50 and its 200-day moving average price is $1.83. Freightos has a 52-week low of $1.27 and a 52-week high of $3.62. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.47 and a quick ratio of 3.47. The firm has a market capitalization of $110.56 million, a PE ratio of -5.21 and a beta of -0.47.

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

Institutional Investors Weigh In On Freightos

A hedge fund recently bought a new stake in Freightos stock. M&G Plc bought a new position in Freightos Limited (NASDAQ:CRGO) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 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. Hedge funds and other institutional investors own 22.72% of the company’s stock.

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.