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

Freightos Limited (NASDAQ:CRGO) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 94,900 shares, a growth of 43.6% from the October 15th total of 66,100 shares. Based on an average daily volume of 66,700 shares, the days-to-cover ratio is presently 1.4 days. Currently, 0.5% of the shares of the company are short sold.

Freightos Stock Performance

Shares of NASDAQ:CRGO traded down $0.17 during mid-day trading on Thursday, reaching $2.22. 150,488 shares of the company traded hands, compared to its average volume of 35,198. The company’s 50 day moving average price is $1.47 and its 200-day moving average price is $1.83. The firm has a market cap of $109.58 million, a PE ratio of -4.84 and a beta of -0.47. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.47 and a quick ratio of 3.47. Freightos has a 52 week low of $1.27 and a 52 week high of $3.62.

Freightos (NASDAQ:CRGO) last posted its quarterly earnings results on Monday, August 19th. The company reported ($0.11) earnings per share 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 business had revenue of $5.66 million during the quarter, compared to the consensus estimate of $5.55 million. During the same quarter in the previous year, the company earned ($0.10) earnings per share. On average, equities analysts expect that Freightos will post -0.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Freightos stock. M&G Plc purchased a new position in Freightos Limited (NASDAQ:CRGO) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,771,094 shares of the company’s stock, valued at approximately $4,339,000. M&G Plc owned 3.70% of Freightos at the end of the most recent reporting period. Institutional investors own 22.72% of the company’s stock.

Analysts Set New Price Targets

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

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.