Freightos Limited (NASDAQ:CRGO) Short Interest Up 15.2% in June

Freightos Limited (NASDAQ:CRGO) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 33,400 shares, an increase of 15.2% from the May 31st total of 29,000 shares. Based on an average daily trading volume, of 18,400 shares, the days-to-cover ratio is currently 1.8 days. Currently, 0.2% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Separately, Chardan Capital decreased their target price on Freightos from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Freightos stock. Seven Post Investment Office LP boosted its stake in shares of Freightos Limited (NASDAQ:CRGO) by 50.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 80,195 shares of the company’s stock after buying an additional 26,931 shares during the period. Seven Post Investment Office LP’s holdings in Freightos were worth $267,000 at the end of the most recent quarter. 22.72% of the stock is currently owned by hedge funds and other institutional investors.

Freightos Stock Down 2.2 %

CRGO stock traded down $0.05 during midday trading on Wednesday, hitting $2.25. The company’s stock had a trading volume of 385 shares, compared to its average volume of 18,326. Freightos has a 12 month low of $1.42 and a 12 month high of $4.20. The company has a current ratio of 3.99, a quick ratio of 3.99 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average of $2.31 and a two-hundred day moving average of $2.67.

Freightos (NASDAQ:CRGO) last posted its earnings results on Monday, May 20th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.05. The firm had revenue of $5.36 million during the quarter, compared to the consensus estimate of $5.26 million. Freightos had a negative return on equity of 19.04% and a negative net margin of 99.95%. Equities research analysts predict that Freightos will post -0.4 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.