Freight Technologies (NASDAQ:FRGT) Trading Down 4.6% – Here’s Why

Freight Technologies, Inc. (NASDAQ:FRGT)’s stock price dropped 4.6% on Friday . The company traded as low as $1.43 and last traded at $1.47. Approximately 90,661 shares changed hands during trading, a decline of 95% from the average daily volume of 1,760,700 shares. The stock had previously closed at $1.54.

Freight Technologies Trading Down 4.6 %

The stock’s fifty day moving average is $1.40 and its two-hundred day moving average is $1.40.

Institutional Trading of Freight Technologies

A hedge fund recently bought a new stake in Freight Technologies stock. Barclays PLC bought a new position in shares of Freight Technologies, Inc. (NASDAQ:FRGT) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 27,362 shares of the company’s stock, valued at approximately $53,000. Barclays PLC owned approximately 1.91% of Freight Technologies as of its most recent filing with the Securities and Exchange Commission (SEC). 6.24% of the stock is owned by institutional investors and hedge funds.

About Freight Technologies

Freight Technologies, Inc, through its subsidiary, operates a transportation logistics technology platform for cross-border shipping in the United States and Mexico. 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.