Freight Technologies, Inc. (NASDAQ:FRGT) Sees Large Growth in Short Interest

Freight Technologies, Inc. (NASDAQ:FRGT) saw a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 130,100 shares, an increase of 350.2% from the November 30th total of 28,900 shares. Currently, 6.5% of the shares of the company are short sold. Based on an average trading volume of 427,600 shares, the short-interest ratio is currently 0.3 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Freight Technologies stock. Barclays PLC purchased a new stake in Freight Technologies, Inc. (NASDAQ:FRGT) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 27,362 shares of the company’s stock, valued at approximately $53,000. Barclays PLC owned approximately 1.91% of Freight Technologies as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 6.24% of the company’s stock.

Freight Technologies Price Performance

Shares of NASDAQ FRGT traded up $0.03 during trading hours on Friday, reaching $1.97. 57,751 shares of the stock were exchanged, compared to its average volume of 213,404. The stock’s fifty day simple moving average is $1.66 and its 200 day simple moving average is $0.93. Freight Technologies has a 52 week low of $1.30 and a 52 week high of $97.05.

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.