Freightos (NASDAQ:CRGO) Stock Price Up 4.6% – Still a Buy?

Freightos Limited (NASDAQ:CRGO) rose 4.6% during trading on Wednesday . The stock traded as high as $1.39 and last traded at $1.36. Approximately 196,525 shares traded hands during trading, an increase of 740% from the average daily volume of 23,396 shares. The stock had previously closed at $1.30.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer reduced their price target on Freightos from $4.50 to $3.50 and set an “outperform” rating for the company in a research report on Wednesday, August 21st.

Freightos Trading Up 4.6 %

The company has a quick ratio of 3.47, a current ratio of 3.47 and a debt-to-equity ratio of 0.01. The firm has a market cap of $65.59 million, a price-to-earnings ratio of -3.16 and a beta of -0.48. The company’s 50-day moving average price is $1.43 and its 200-day moving average price is $1.89.

Freightos (NASDAQ:CRGO) last released its earnings results on Monday, August 19th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The business had revenue of $5.66 million for the quarter, compared to analysts’ expectations 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 period in the previous year, the company earned ($0.10) EPS. Equities analysts expect that Freightos Limited will post -0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Freightos

An institutional investor recently bought a new position 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 13F filing with the Securities & Exchange Commission. The firm purchased 1,771,094 shares of the company’s stock, valued at approximately $4,339,000. M&G Plc owned 3.70% of Freightos as of its most recent SEC filing. 22.72% of the stock is owned by hedge funds and other institutional investors.

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.