Freight Technologies, Inc. (NASDAQ:FRGT) Sees Significant Decline in Short Interest

Freight Technologies, Inc. (NASDAQ:FRGT) was the target of a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 31,600 shares, a decrease of 49.7% from the September 30th total of 62,800 shares. Based on an average trading volume of 501,000 shares, the short-interest ratio is currently 0.1 days. Currently, 2.2% of the shares of the company are sold short.

Freight Technologies Stock Performance

FRGT remained flat at $1.86 during midday trading on Friday. The company’s stock had a trading volume of 72,476 shares, compared to its average volume of 227,146. The business has a fifty day moving average of $0.97 and a 200 day moving average of $0.68. Freight Technologies has a 12 month low of $1.45 and a 12 month high of $350.00.

Institutional Trading of Freight Technologies

A hedge fund recently bought a new stake in Freight Technologies stock. Virtu Financial LLC acquired a new position in shares of Freight Technologies, Inc. (NASDAQ:FRGT) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 29,117 shares of the company’s stock, valued at approximately $40,000. Virtu Financial LLC owned 1.19% of Freight Technologies at the end of the most recent reporting period. Institutional investors and hedge funds own 6.24% of the company’s stock.

About Freight Technologies

Freight Technologies, Inc, through its subsidiary, operates a transportation logistics technology platform for cross-border shipping in the United States and Mexico. Its Fr8App technology platform offers an online portal and a mobile application that provide third-party logistics services to companies in the freight transportation market; a transport management solution for customers to manage their own fleet; and freight brokerage support and customer services based on the platform.