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

Freightos Limited (NASDAQ:CRGO) was the recipient of a significant decline in short interest in February. As of February 15th, there was short interest totalling 206,300 shares, a decline of 24.0% from the January 31st total of 271,300 shares. Based on an average daily trading volume, of 112,700 shares, the short-interest ratio is presently 1.8 days. Approximately 0.9% of the shares of the company are short sold.

Institutional Trading of Freightos

Several institutional investors have recently bought and sold shares of the stock. Northern Trust Corp bought a new position in shares of Freightos during the fourth quarter valued at $579,000. Geode Capital Management LLC increased its position in shares of Freightos by 41.6% during 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 in the last quarter. Finally, Jane Street Group LLC bought a new position in Freightos during the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 22.72% of the company’s stock.

Freightos Stock Performance

Freightos stock traded down $0.10 on Wednesday, hitting $2.38. The company’s stock had a trading volume of 33,078 shares, compared to its average volume of 60,097. Freightos has a one year low of $1.27 and a one year high of $4.42. The firm has a market cap of $117.47 million, a P/E ratio of -6.99 and a beta of -0.18. The company has a quick ratio of 2.90, a current ratio of 2.90 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average price of $3.50 and a 200-day moving average price of $2.34.

Freightos (NASDAQ:CRGO) last posted its quarterly earnings results on Monday, February 24th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.11). The business 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%. On average, equities analysts anticipate that Freightos will post -0.35 earnings per share 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.