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

Freightos Limited (NASDAQ:CRGO) was the target of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 271,300 shares, a growth of 97.5% from the January 15th total of 137,400 shares. Approximately 1.2% of the company’s shares are sold short. Based on an average daily trading volume, of 134,400 shares, the short-interest ratio is presently 2.0 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CRGO. Jane Street Group LLC purchased a new position in shares of Freightos in the 4th quarter valued at approximately $33,000. Geode Capital Management LLC lifted its holdings in shares of Freightos by 41.6% during the fourth quarter. Geode Capital Management LLC now owns 18,813 shares of the company’s stock valued at $57,000 after purchasing an additional 5,523 shares during the last quarter. Finally, Northern Trust Corp purchased a new position in shares of Freightos during the fourth quarter valued at approximately $579,000. Hedge funds and other institutional investors own 22.72% of the company’s stock.

Freightos Trading Up 5.1 %

NASDAQ:CRGO traded up $0.20 during mid-day trading on Friday, reaching $4.13. 98,464 shares of the company’s stock traded hands, compared to its average volume of 129,603. Freightos has a 12-month low of $1.27 and a 12-month high of $4.42. The firm has a market capitalization of $203.86 million, a price-to-earnings ratio of -12.15 and a beta of -0.18. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.90 and a quick ratio of 2.90. The company has a 50 day moving average price of $3.24 and a 200-day moving average price of $2.18.

Freightos (NASDAQ:CRGO) last announced its quarterly earnings results on Monday, November 25th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.16. Freightos had a negative net margin of 71.11% and a negative return on equity of 20.80%. On average, sell-side analysts predict that Freightos will post -0.35 earnings per share for the current 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.