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

Freightos Limited (NASDAQ:CRGO) was the recipient of a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 66,100 shares, a decline of 9.0% from the September 30th total of 72,600 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average daily volume of 29,200 shares, the days-to-cover ratio is presently 2.3 days.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Freightos

An institutional investor recently bought a new position in Freightos stock. M&G Plc acquired a new stake in Freightos Limited (NASDAQ:CRGO) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 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. Hedge funds and other institutional investors own 22.72% of the company’s stock.

Freightos Trading Up 0.7 %

CRGO traded up $0.01 on Friday, reaching $1.35. 19,356 shares of the company’s stock were exchanged, compared to its average volume of 23,984. Freightos has a twelve month low of $1.27 and a twelve month high of $3.62. The company’s 50 day moving average is $1.43 and its 200-day moving average is $1.88. The company has a quick ratio of 3.47, a current ratio of 3.47 and a debt-to-equity ratio of 0.01.

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

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.