The time has not yet come to remove your chips from the table: Freight Technologies Inc. (FRGT)

Freight Technologies Inc. (NASDAQ: FRGT) stock jumped 13.19% on Monday to $0.31 against a previous-day closing price of $0.28. With 2.39 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.96 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $0.3450 whereas the lowest price it dropped to was $0.2818. The 52-week range on FRGT shows that it touched its highest point at $7.77 and its lowest point at $0.18 during that stretch. It currently has a 1-year price target of $2.25. Beta for the stock currently stands at 1.98.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of FRGT was up-trending over the past week, with a rise of 9.38%, but this was up by 38.16% over a month. Three-month performance dropped to -19.66% while six-month performance fell -77.82%. The stock lost -94.27% in the past year, while it has gained 37.37% so far this year. A look at the trailing 12-month EPS for FRGT yields -1.12 with Next year EPS estimates of -0.06.

Float and Shares Shorts:

At present, 10.17 million FRGT shares are outstanding with a float of 9.08 million shares on hand for trading. On Oct 13, 2022, short shares totaled 5890.0, which was 0.04% higher than short shares on Sep 14, 2022. In addition to Mr. Javier Selgas as the firm’s CEO & Director, Mr. Mike Flinker serves as its Pres.

Institutional Ownership:

Through their ownership of 6.65% of FRGT’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 2.22% of FRGT, in contrast to 0.08% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in FRGT with 1.06% of the stake, Renaissance Technologies LLC holds 107,344 shares worth 107,344. A second-largest stockholder of FRGT, Millennium Management LLC, holds 57,848 shares, controlling over 0.57% of the firm’s shares. Citadel Securities LLC is the third largest shareholder in FRGT, holding 34,948 shares or 0.34% stake. With a 0.08% stake in FRGT, the Fidelity Nasdaq Composite Index F is the largest stakeholder. A total of 7,601 shares are owned by the mutual fund manager. The Carbon Collective Climate Solutio, which owns about 0.00% of FRGT stock, is the second-largest Mutual Fund holder. It holds 166 shares valued at 38.0.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for FRGT since 1 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With FRGT analysts setting a high price target of $2.25 and a low target of $2.25, the average target price over the next 12 months is $2.25. Based on these targets, FRGT could surge 625.81% to reach the target high and rise by 625.81% to reach the target low. Reaching the average price target will result in a growth of 625.81% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. Analysts have provided yearly estimates in a range of -$0.08 being high and -$0.08 being low. For FRGT, this leads to a yearly average estimate of -$0.08.

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