Freightos Limited (NASDAQ:CRGO) Sees Large Growth in Short Interest

Freightos Limited (NASDAQ:CRGO) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 72,200 shares, a growth of 46.2% from the August 15th total of 49,400 shares. Approximately 0.3% of the company’s shares are sold short. Based on an average daily trading volume, of 25,300 shares, the short-interest ratio is presently 2.9 days.

Analyst Ratings Changes

Several research firms recently issued reports on CRGO. Chardan Capital decreased their target price on shares of Freightos from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Oppenheimer lowered their price objective on shares of Freightos from $4.50 to $3.50 and set an “outperform” rating for the company in a research report on Wednesday, August 21st.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Freightos stock. M&G Plc bought a new position in Freightos Limited (NASDAQ:CRGO) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 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 Stock Performance

CRGO stock opened at $1.37 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.47 and a current ratio of 3.47. The stock’s fifty day moving average is $1.70 and its two-hundred day moving average is $2.14. The stock has a market capitalization of $66.07 million, a price-to-earnings ratio of -3.25 and a beta of -0.47. Freightos has a 1 year low of $1.37 and a 1 year high of $3.62.

Freightos (NASDAQ:CRGO) last issued 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 the consensus estimate of $5.55 million. During the same period in the previous year, the business posted ($0.10) earnings per share. On average, research analysts predict that Freightos will post -0.52 EPS 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.