Freight Tech Stock Price, News & Analysis

Freight Technologies (Nasdaq: FRGT) reported significant growth in March 2023, onboarding new shipper clients across diverse sectors, including automotive and beverage, with expected recurring revenue exceeding $1 million monthly. The company anticipates significant enhancements to its Fr8App platform, driven by a multi-year contract with Kimberly Clark de Mexico and additional client confirmations. For Q4 2022, Freight Technologies achieved $4.4 million in revenue, marking a 20.6% year-over-year increase. The company’s guidance for 2023 is $36 million, showing nearly 40% growth potential. Following a 10-to-1 reverse share split, the adjusted capital value stands at $5.1 million, creating an upside of over 11X on recent closing prices.

Freight Technologies Inc. (Nasdaq: FRGT) has secured a logistics service contract with Whirlpool Mexico. This partnership utilizes Fr8Tech's Fr8App, an AI-powered freight-matching platform, for domestic shipping services. The collaboration aligns with Whirlpool's commitment to sustainability by eliminating paper tracking. Following a 10:1 reverse stock split on March 24, 2023, the company's market cap stood at approximately $4.8 million, significantly below independent analysts' target price of $20 per share. This reflects a potential upside of over 12X based on closing prices.

Freight Technologies (FRGT) announced a 10:1 reverse share split effective March 24, 2023, to meet Nasdaq’s minimum bid price requirement. Following the split, the outstanding shares will be reduced to 3,271,386, with a market capitalization of approximately $5.5MM, reflecting a 91.6% discount to the target price of $20. CEO Javier Selgas emphasized the importance of maintaining the Nasdaq listing as the company continues to improve its AI-driven freight-matching platform. This move aims to enhance compliance and support operational growth within the USMCA region.

Freight Technologies (Nasdaq: FRGT) launched Fr8Now, a digital freight-matching platform focusing on less-than-truckload (LTL) services in Mexico, on March 16, 2023. This strategic move targets a growing market with limited competition and aims to improve logistics through advanced technology. The company reported $4.4 million in quarterly revenue for Q4 2022 and anticipates $36 million in 2023, indicating strong growth potential. Fr8Now enhances shipping efficiency by using machine-learning algorithms to connect shippers with carriers. The platform aims to provide real-time tracking and complete control over logistics operations, benefiting both small businesses and carriers.

Fr8Tech (Nasdaq: FRGT) reported Q4 2022 revenue of $4.4 million, contributing to a YTD 2022 total of $25.9 million, up 20.6% year-over-year. The company anticipates 2023 revenue of $36 million, representing nearly 40% growth compared to 2022. Challenges in Q4 included reduced demand from a major client, yet management remains optimistic about future growth opportunities in the North American market. The company plans to announce a new LTL product soon, indicating continued expansion efforts.

Freight Technologies, Inc. (Nasdaq: FRGT) announced that Chardan Capital Research has maintained its buy rating but reduced its price target from $2.25 to $2.00. Despite a setback with a major shipper client, Chardan's endorsement reflects confidence in Freight Technologies' long-term growth potential in the transportation sector. CEO Javier Selgas emphasized the company's commitment to technological innovation and customer service. Chardan cited changes in market conditions as factors for the price target adjustment, but still sees positive medium-term prospects for the company.

Freight Technologies, Inc. (Nasdaq: FRGT) has announced a significant update to its Fr8App platform, focusing on its Fr8TMS product for shippers. This update aims to enhance the commercial trucking industry by providing advanced logistics technology for efficient freight movement across the USMCA region. Key features include improved real-time tracking, a new carrier rating system, and a user-friendly booking process. The update is designed to benefit shippers, carriers, and drivers by simplifying freight operations and improving connectivity. The Fr8App team is committed to evolving the platform to meet customer needs, enhancing value for shippers.

Freight Technologies (Nasdaq: FRGT) has partnered with Majoba Logistics to enhance its Fr8Fleet private fleet services in Mexico. This collaboration aims to onboard Majoba's fleet onto the Fr8App platform, significantly expanding transportation capacity and offering more efficient services to customers. CEO Javier Selgas expressed optimism about doubling the size of Fr8Fleet this year, highlighting the alignment of both companies' commitment to quality logistics services. Majoba's CEO, Aarón Elizondo, noted the partnership's potential to increase reach and operational efficiency.

Freight Technologies, Inc. (Nasdaq: FRGT) has launched an automated carrier onboarding process for its Fr8App platform, significantly enhancing ease of use for carriers in Mexico and the U.S.

This new system allows qualified carriers to sign up and get approved in minutes, replacing cumbersome legacy systems. The initiative aims to streamline the onboarding process, enabling carriers to focus on transporting loads rather than administrative tasks. CEO Javier Selgas emphasized the company’s commitment to simplifying the transportation industry and enhancing the user experience.

Freight Technologies continues to leverage AI and machine learning to optimize supply chain operations.