Freightos Limited (NASDAQ:CRGO) Sees Large Increase in Short Interest

Freightos Limited (NASDAQ:CRGO) saw a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 248,700 shares, a growth of 20.6% from the February 13th total of 206,300 shares. Based on an average daily volume of 110,300 shares, the short-interest ratio is presently 2.3 days. Currently, 1.1% of the company’s shares are sold short.

Freightos Stock Performance

NASDAQ CRGO opened at $2.28 on Thursday. Freightos has a twelve month low of $1.27 and a twelve month high of $4.42. The company has a current ratio of 2.90, a quick ratio of 2.90 and a debt-to-equity ratio of 0.01. The business’s 50-day moving average price is $3.34 and its 200 day moving average price is $2.39. The company has a market capitalization of $112.54 million, a PE ratio of -6.71 and a beta of -0.09.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC grew its position in 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 purchasing an additional 5,523 shares during the last quarter. Jane Street Group LLC acquired a new stake in Freightos in the 4th quarter valued at about $33,000. Finally, Northern Trust Corp bought a new stake in Freightos during the fourth quarter worth approximately $579,000. 22.72% of the stock is owned by institutional investors and hedge funds.

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.