Freight Technologies (NASDAQ:FRGT) Rating Lowered to Sell at Wall Street Zen

Freight Technologies (NASDAQ:FRGT) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (e)” rating on shares of Freight Technologies in a report on Monday, December 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Freight Technologies presently has an average rating of “Sell”.

Freight Technologies Stock Performance

Shares of FRGT stock opened at $0.99 on Friday. The firm has a market cap of $544,500.00, a price-to-earnings ratio of -0.06 and a beta of 1.03. Freight Technologies has a 52 week low of $0.99 and a 52 week high of $69.80. The firm’s 50-day simple moving average is $1.23 and its two-hundred day simple moving average is $3.32.

Freight Technologies Company Profile

Freight Technologies, Inc (NASDAQ: FRGT) is a special purpose acquisition company incorporated in Delaware on November 17, 2020. The company was formed to raise capital through an initial public offering and to effect a merger, capital stock exchange, asset acquisition, stock purchase or other similar business combination with one or more businesses, with a primary focus on the freight, transportation and logistics sectors.

Freight Technologies seeks to leverage its blank-check structure to target companies involved in freight transportation, supply chain management and technology-enabled logistics services.