Freightos Limited (NASDAQ:CRGO) Short Interest Down 9.0% in October

Freightos Limited (NASDAQ:CRGO - Get Free Report) saw a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 66,100 shares, a drop of 9.0% from the September 30th total of 72,600 shares. Based on an average daily volume of 29,200 shares, the short-interest ratio is currently 2.3 days. Currently, 0.3% of the shares of the stock are short sold.

Analyst Ratings Changes

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

Freightos Price Performance

CRGO traded up $0.01 during trading on Friday, hitting $1.35. 27,001 shares of the stock traded hands, compared to its average volume of 24,020. The business has a 50 day moving average price of $1.42 and a 200 day moving average price of $1.87. 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 twelve month low of $1.27 and a twelve month high of $3.62. The company has a market cap of $65.10 million, a price-to-earnings ratio of -3.14 and a beta of -0.48.

Freightos (NASDAQ:CRGO - Get Free Report) last posted its quarterly earnings results on Monday, August 19th. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.01). The business had revenue of $5.66 million for the quarter, compared to analyst estimates of $5.55 million. Freightos had a negative return on equity of 21.08% and a negative net margin of 95.45%. During the same period last year, the firm posted ($0.10) EPS. Equities research analysts forecast that Freightos will post -0.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Freightos

An institutional investor recently bought a new position in Freightos stock. M&G Plc acquired a new stake in Freightos Limited (NASDAQ:CRGO - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,771,094 shares of the company's stock, valued at approximately $4,339,000. M&G Plc owned about 3.70% of Freightos at the end of the most recent reporting period. 22.72% of the stock is currently owned by institutional investors.

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.