Freight Technologies Inc (NASDAQ:FRGT) shares, rose in value, with the stock price up by 5.02% to the previous day’s close as strong demand from buyers drove the stock to $0.91.
Actively observing the price movement in the last trading, the stock closed the session at $0.87. Referring to stock’s 52-week performance, its high was $20.85, and the low was $0.84. On the whole, FRGT has fluctuated by -26.90% over the past month.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 26.4M, with a low estimate of 26.4M and a high estimate of 26.4M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 26.4M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that FRGT’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium-term indicators have put the stock in the category of 100% Sell while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of FRGT currently trading nearly -12.97% and -36.56% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 32.41, while the 7-day volatility ratio is showing 11.53% which for the 30-day chart, stands at 9.71%. Furthermore, Freight Technologies Inc (FRGT)’s beta value is 1.68, and its average true range (ATR) is 0.12.
A comparison of Freight Technologies Inc (FRGT) with its peers suggests the former has fared considerably weaker in the market. FRGT showed an intraday change of 5.02% in last session, and over the past year, it shrunk by -94.59%%.
Data on historical trading for Freight Technologies Inc (NASDAQ:FRGT) indicates that the trading volumes over the past 3 months, they’ve averaged 516.44K. According to company’s latest data on outstanding shares, there are 2.44 million shares outstanding.
Nearly 0.31% of Freight Technologies Inc’s shares belong to company insiders and institutional investors own 0.83% of the company’s shares. The stock has fallen by -72.81% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the FRGT stock heading into the next quarter.
