Short Interest in Freightos Limited (NASDAQ:CRGO) Declines By 24.0%

Freightos Limited (NASDAQ:CRGO) saw a large drop in short interest in the month of February. As of February 15th, there was short interest totalling 206,300 shares, a drop of 24.0% from the January 31st total of 271,300 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average daily volume of 112,700 shares, the days-to-cover ratio is currently 1.8 days.

Hedge Funds Weigh In On Freightos

Hedge funds have recently modified their holdings of the stock. Jane Street Group LLC acquired a new position in shares of Freightos in the 4th quarter worth $33,000. Geode Capital Management LLC grew its holdings in shares of Freightos by 41.6% in the 4th quarter. Geode Capital Management LLC now owns 18,813 shares of the company’s stock worth $57,000 after acquiring an additional 5,523 shares during the last quarter. Finally, Northern Trust Corp acquired a new stake in shares of Freightos in the fourth quarter worth $579,000. 22.72% of the stock is currently owned by institutional investors and hedge funds.

Freightos Stock Down 1.6 %

Shares of CRGO stock opened at $2.44 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.90 and a current ratio of 2.90. The stock has a market cap of $120.44 million, a PE ratio of -7.18 and a beta of -0.09. The business’s fifty day moving average is $3.49 and its 200-day moving average is $2.34. Freightos has a 1 year low of $1.27 and a 1 year high of $4.42.

Freightos (NASDAQ:CRGO) last issued its earnings results on Monday, February 24th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.11). The company had revenue of $6.59 million during the quarter, compared to analyst estimates of $6.80 million. Freightos had a negative return on equity of 20.80% and a negative net margin of 71.11%. Equities analysts expect that Freightos will post -0.35 earnings per share for the current fiscal year.

Freightos Company Profile

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.