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.
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..
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.
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.