Short Interest in Freight Technologies, Inc. (NASDAQ:FRGT) Grows By 46.7%

Freight Technologies, Inc. (NASDAQ:FRGT) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 160,100 shares, a growth of 46.7% from the June 15th total of 109,100 shares. Based on an average daily volume of 4,840,000 shares, the days-to-cover ratio is currently 0.0 days. Approximately 1.2% of the company’s stock are short sold.

Hedge Funds Weigh In On Freight Technologies

An institutional investor recently bought a new position in Freight Technologies stock. Virtu Financial LLC purchased a new stake in Freight Technologies, Inc. (NASDAQ:FRGT) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 29,117 shares of the company’s stock, valued at approximately $40,000. Virtu Financial LLC owned approximately 1.19% of Freight Technologies as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 6.24% of the company’s stock.

Freight Technologies Price Performance

Shares of NASDAQ FRGT traded down $0.01 during mid-day trading on Monday, hitting $0.28. The company had a trading volume of 650,119 shares, compared to its average volume of 2,616,696. The firm has a 50-day simple moving average of $0.53 and a two-hundred day simple moving average of $1.44. Freight Technologies has a one year low of $0.28 and a one year high of $14.00. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.25 and a quick ratio of 1.25.

About Freight Technologies

Freight Technologies, Inc, through its subsidiary, operates a transportation logistics technology platform that offers truckload freight services in the United States, Mexico, and Canada. Its Fr8App technology platform offers an online portal and a mobile application that provide third-party logistics services to companies in the freight transportation market; a transport management solution for customers to manage their own fleet; and freight brokerage support and customer services based on the platform.