Freight Technologies, Inc. (NASDAQ:FRGT) Short Interest Up 292.0% in March

Freight Technologies, Inc. (NASDAQ:FRGT) saw a large increase in short interest in March. As of March 15th, there was short interest totalling 157,600 shares, an increase of 292.0% from the February 28th total of 40,200 shares. Based on an average daily volume of 1,350,000 shares, the short-interest ratio is currently 0.1 days. Approximately 7.3% of the company’s shares are short sold.

Institutional Trading of Freight Technologies

A hedge fund recently bought a new stake in Freight Technologies stock. Barclays PLC acquired a new stake in Freight Technologies, Inc. (NASDAQ:FRGT) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 27,362 shares of the company’s stock, valued at approximately $53,000. Barclays PLC owned 1.91% of Freight Technologies as of its most recent SEC filing. 6.24% of the stock is owned by hedge funds and other institutional investors.

Freight Technologies Price Performance

Shares of Freight Technologies stock traded down $0.04 during mid-day trading on Thursday, hitting $1.09. 8,003 shares of the stock were exchanged, compared to its average volume of 553,983. The company has a 50-day simple moving average of $1.34 and a 200 day simple moving average of $1.46. Freight Technologies has a twelve month low of $1.03 and a twelve month high of $42.50.

Freight Technologies Company Profile

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.