Freightos (NASDAQ:CRGO) Trading Up 7.7%

Shares of Freightos Limited (NASDAQ:CRGO) were up 7.7% during mid-day trading on Wednesday . The stock traded as high as $1.59 and last traded at $1.54. Approximately 24,498 shares changed hands during mid-day trading, an increase of 18% from the average daily volume of 20,831 shares. The stock had previously closed at $1.43.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CRGO shares. Oppenheimer cut their price target on Freightos from $4.50 to $3.50 and set an “outperform” rating for the company in a research note on Wednesday, August 21st. Chardan Capital lowered their price objective on shares of Freightos from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd.

Freightos Trading Up 7.7 %

The firm has a market capitalization of $74.27 million, a price-to-earnings ratio of -3.50 and a beta of -0.47. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.47 and a quick ratio of 3.47. The firm’s 50-day simple moving average is $1.73 and its 200 day simple moving average is $2.16.

Freightos (NASDAQ:CRGO) last announced its quarterly earnings results on Monday, August 19th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The company had revenue of $5.66 million for the quarter, compared to analyst estimates of $5.55 million. Freightos had a negative return on equity of 21.08% and a negative net margin of 95.45%. During the same quarter last year, the company posted ($0.10) earnings per share. Equities analysts expect that Freightos Limited will post -0.52 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Freightos stock. M&G Plc purchased a new position in shares of Freightos Limited (NASDAQ:CRGO) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,771,094 shares of the company’s stock, valued at approximately $4,339,000. M&G Plc owned approximately 3.70% of Freightos as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 22.72% of the company’s stock.

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.