Freight Technologies (NASDAQ:FRGT) Trading Down 4.6% – Here’s Why

Freight Technologies, Inc. (NASDAQ:FRGT) traded down 4.6% during trading on Friday . The stock traded as low as $1.43 and last traded at $1.47. 90,661 shares were traded during mid-day trading, a decline of 95% from the average session volume of 1,760,700 shares. The stock had previously closed at $1.54.

Freight Technologies Stock Down 4.6 %

The firm’s 50-day simple moving average is $1.40 and its 200 day simple moving average is $1.40.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Freight Technologies stock. Barclays PLC acquired a new stake in Freight Technologies, Inc. (NASDAQ:FRGT) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 27,362 shares of the company’s stock, valued at approximately $53,000. Barclays PLC owned approximately 1.91% of Freight Technologies at the end of the most recent reporting period. Hedge funds and other institutional investors own 6.24% of the company’s stock.

Freight Technologies Company Profile

Freight Technologies, Inc, through its subsidiary, operates a transportation logistics technology platform for cross-border shipping in the United States and Mexico. Its Fr8App technology platform offers an online portal and a mobile application that provide third-party logistics services to companies in the freight transportation market; a transport management solution for customers to manage their own fleet; and freight brokerage support and customer services based on the platform.