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

Freightos Limited (NASDAQ:CRGO) was the recipient of a significant increase in short interest in 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. Based on an average daily trading volume, of 66,700 shares, the days-to-cover ratio is presently 1.4 days. Approximately 0.5% of the shares of the stock are short sold.

Analyst Ratings Changes

Separately, Oppenheimer decreased their price target on Freightos from $4.50 to $3.50 and set an “outperform” rating on the stock in a research note on Wednesday, August 21st.

Hedge Funds Weigh In On Freightos

A hedge fund recently bought a new stake in Freightos stock. M&G Plc purchased a new position in Freightos Limited (NASDAQ:CRGO) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,771,094 shares of the company’s stock, valued at approximately $4,339,000. M&G Plc owned about 3.70% of Freightos as of its most recent SEC filing. 22.72% of the stock is currently owned by institutional investors and hedge funds.

Freightos Price Performance

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

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

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.