Freight Technologies Inc. (NASDAQ: FRGT) stock fell -1.74% on Friday to $0.37 against a previous-day closing price of $0.37. With 0.58 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.78 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $0.3989 whereas the lowest price it dropped to was $0.3672. The 52-week range on FRGT shows that it touched its highest point at $10.40 and its lowest point at $0.33 during that stretch. It currently has a 1-year price target of $9.00. Beta for the stock currently stands at 2.18.
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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 down-trending over the past week, with a drop of -4.67%, but this was down by -19.65% over a month. Three-month performance dropped to -66.00% while six-month performance fell -80.68%. The stock lost -96.33% in the past year, while it has lost -83.99% so far this year. A look at the trailing 12-month EPS for FRGT yields -6.08 with Next year EPS estimates of -0.37.
Float and Shares Shorts:
At present, 7.04 million FRGT shares are outstanding with a float of 3.10 million shares on hand for trading. On Aug 30, 2023, short shares totaled 0.12 million, which was 1.27% higher than short shares on Jul 30, 2023. In addition to Mr. Javier Selgas as the firm’s CEO & Director, Mr. Paul D. Freudenthaler serves as its CFO & Sec..
Institutional Ownership:
Through their ownership of 4.82% of FRGT’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 1.75% of FRGT, in contrast to 0.03% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in FRGT with 1.78% of the stake, Citadel Securities LLC holds 58,187 shares worth 58,187. A second-largest stockholder of FRGT, Avior Wealth Management LLC, holds 0 shares, controlling over 0.00% of the firm’s shares. G1 Execution Services LLC is the third largest shareholder in FRGT, holding 0 shares or 0.00% stake. With a 0.02% stake in FRGT, the Fidelity Nasdaq Composite Index F is the largest stakeholder. A total of 761 shares are owned by the mutual fund manager. The Carbon Collective Climate Solutio, which owns about 0.01% of FRGT stock, is the second-largest Mutual Fund holder. It holds 185 shares valued at 79.0.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for FRGT since 0 analysts follow the stock currently. 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 $9.00 and a low target of $9.00, the average target price over the next 12 months is $9.00. Based on these targets, FRGT could surge 2332.43% to reach the target high and rise by 2332.43% to reach the target low. Reaching the average price target will result in a growth of 2332.43% 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.
