Freight Technologies (NASDAQ:FRGT) Downgraded by Wall Street Zen to Sell

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

Separately, Weiss Ratings reissued a “sell (e)” rating on shares of Freight Technologies in a research note on Monday, December 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Freight Technologies Price Performance

FRGT opened at $0.99 on Friday. The firm has a market capitalization of $544,500.00, a P/E ratio of -0.06 and a beta of 1.03. Freight Technologies has a one year low of $0.99 and a one year high of $69.80. The company has a fifty day moving average price of $1.23 and a 200-day moving average price of $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.