Freight Technologies Inc. [NASDAQ: FRGT] price plunged by -15.49 percent to reach at -$0.04. The company report on March 7, 2023 that Freight Technologies, Inc. Reports Strong Revenue Growth: YTD Revenue Reaches $25.9 Million, Up 20.3% from Prior Year; Almost 40% Annual Revenue Growth Projected for 2023.
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Fr8Tech’s Q4 2022 Performance: Strong Fr8Fleet Results Counterbalance Dip in Shipments from Key Account.
A sum of 4544603 shares traded at recent session while its average daily volume was at 3.64M shares. Freight Technologies Inc. shares reached a high of $0.254 and dropped to a low of $0.228 until finishing in the latest session at $0.24.
The one-year FRGT stock forecast points to a potential upside of 88.0. The average equity rating for FRGT stock is currently 2.00, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Freight Technologies Inc. [FRGT]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FRGT shares is $2.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FRGT stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
The Average True Range (ATR) for Freight Technologies Inc. is set at 0.05, with the Price to Sales ratio for FRGT stock in the period of the last 12 months amounting to 0.19. The Price to Book ratio for the last quarter was 0.75.
FRGT Stock Performance Analysis:
Freight Technologies Inc. [FRGT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.69. With this latest performance, FRGT shares dropped by -57.14% in over the last four-week period, additionally sinking by -84.21% over the last 6 months – not to mention a drop of -87.43% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FRGT stock in for the last two-week period is set at 38.71, with the RSI for the last a single of trading hit 33.59, and the three-weeks RSI is set at 41.86 for Freight Technologies Inc. [FRGT]. The present Moving Average for the last 50 days of trading for this stock 0.3072, while it was recorded at 0.2931 for the last single week of trading, and 0.8796 for the last 200 days.
Insight into Freight Technologies Inc. Fundamentals:
Return on Equity for this stock declined to -131.05, with Return on Assets sitting at -67.59.
Freight Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.
Freight Technologies Inc. [FRGT] Insider Position Details
There are presently around $0 million, or 6.80% of FRGT stock, in the hands of institutional investors. The top three institutional holders of FRGT stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 86,375, which is approximately -19.534% of the company’s market cap and around 8.18% of the total institutional ownership; TWO SIGMA SECURITIES, LLC, holding 35,800 shares of the stock with an approximate value of $9000.0 in FRGT stocks shares; and GROUND SWELL CAPITAL, LLC, currently with $5000.0 in FRGT stock with ownership of nearly New of the company’s market capitalization.
3 institutional holders increased their position in Freight Technologies Inc. [NASDAQ:FRGT] by around 44,812 shares. Additionally, 6 investors decreased positions by around 127,748 shares, while 0 investors held positions by with 21,851 shares. The mentioned changes placed institutional holdings at 150,709 shares, according to the latest SEC report filing. FRGT stock had 2 new institutional investments in for a total of 20,780 shares, while 4 institutional investors sold positions of 106,474 shares during the same period.