Short Interest in Freightos Limited (NASDAQ:CRGO) Rises By 20.6%

Freightos Limited (NASDAQ:CRGO) saw 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. Approximately 1.1% of the company’s stock are short sold. Based on an average daily trading volume, of 110,300 shares, the days-to-cover ratio is currently 2.3 days.

Freightos Stock Up 3.1 %

Shares of CRGO stock traded up $0.07 during mid-day trading on Tuesday, reaching $2.33. 72,544 shares of the company were exchanged, compared to its average volume of 62,709. The company has a market capitalization of $115.01 million, a P/E ratio of -6.85 and a beta of -0.09. The business’s 50 day simple moving average is $3.36 and its 200 day simple moving average is $2.39. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.90 and a current ratio of 2.90. Freightos has a fifty-two week low of $1.27 and a fifty-two week high of $4.42.

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

Hedge Funds Weigh In On Freightos

Several large investors have recently added to or reduced their stakes in the company. Jane Street Group LLC acquired a new stake in shares of Freightos during the fourth quarter worth $33,000. Northern Trust Corp acquired a new stake in Freightos during the fourth quarter worth about $579,000. Finally, Geode Capital Management LLC lifted its holdings in 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 acquiring an additional 5,523 shares during the last quarter. 22.72% of the stock is currently owned by 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.