Chardan Capital Research Maintains Buy on Freight Technologies Inc., Lowers Price Target by $0.25 to $2.00
February 28 2023 - 9:29AM
Freight Technologies, Inc. (Nasdaq: FRGT) (“Fr8Tech''), a
technology company whose custom-developed Fr8App, an
industry-leading freight-matching platform powered by AI and
machine-learning that offers a real-time portal for B2B
cross-border and domestic shipping within the USMCA region,
announces that Chardan Capital Research, a leading investment and
research firm, has maintained its buy rating on the company’s
ordinary shares while lowering its price target by $0.25, from
$2.25 to $2.00.
Freight Technologies Inc. is pleased to receive Chardan's latest
endorsement, which reflects the company's ongoing efforts to expand
its operations, improve its services and create value for its
shareholders. Chardan Capital Research's buy rating for Freight
Technologies Inc. is an indication of continued confidence in the
company’s potential for long-term growth and success in the
transportation industry.
According to Chardan’s report, the adjustment in the price
target is based on various factors, including changes in market
conditions, and is also limited by temporary setbacks suffered with
one of the company’s larger shipper clients. However, Chardan still
maintains its buy rating for Freight Technologies Inc., a
reflection of the investment firm's opinion of the company's
strategy and medium-term potential.
"We are pleased to be able to share the results of Chardan's
independent analysis of our company's growth and potential. Our
focus on technology-driven solutions and outstanding customer
service has allowed us to differentiate ourselves in the market,
and we will continue to build on that success," said Javier Selgas,
CEO of Freight Technologies Inc.
"We remain committed to expanding our services, investing in our
technology platform, and providing unparalleled customer service to
our clients. We thank Chardan for their continued review of our
company and look forward to delivering strong results for our
shareholders," concluded Selgas.
Despite the challenging market conditions, the company is
well-positioned to deliver robust results for its stakeholders, and
it appreciates the independent reviews of Chardan Capital
Research.
About Chardan Capital
Chardan is an independent, full-service, global investment bank
focused on bringing disruptive innovation to corporate and
institutional clients. Chardan has established a leading SPAC
practice with an 18-year history, having been involved in 120 SPAC
IPOs with over $15 billion in transaction value, 47 business
combination transactions with over $23 billion in transaction
value, and 15 sponsored/co-sponsored SPAC transactions with over
$1.4 billion in transaction value. Headquartered in New York City,
Chardan is a registered broker-dealer with the U.S. Securities and
Exchange Commission and is a member of the following: FINRA, SIPC,
NASDAQ and the NYSE Arca, Inc.
About Freight Technologies Inc.
Freight Technologies (Nasdaq: FRGT) (“Fr8Tech") is a technology
company developing solutions to optimize and automate the supply
chain process. Its wholly owned subsidiary Freight App, Inc.
(“Fr8App”) is a B2B cross-border shipping marketplace in the USMCA
region powered by AI and machine learning. Focused on making
shipping transparent and efficient, Fr8App provides carriers with
increased growth opportunities and shippers with flexibility,
visibility and simplicity for the once-complex process of
international over-the-road (OTR) shipping. Fr8App uses its
proprietary technology platform to connect carriers and shippers
and significantly improve matching and operation efficiency via
innovative technologies such as live pricing and real-time
tracking, digital freight marketplace, broker, transportation
management, fleet management and committed capacity solutions. The
company is headquartered in Houston, Texas. For more information,
please visit fr8technologies.com.
Forward-Looking Statements This press release
includes “forward-looking statements” within the meaning of the
“safe harbor” provisions of the United States Private Securities
Litigation Reform Act of 1995. Freight Technologies' and Fr8App’s
actual results may differ from their expectations, estimates and
projections, and, consequently, readers should not rely on these
forward-looking statements as predictions of future events. Words
such as “expect,” “estimate,” “project,” “budget,” “forecast,”
“anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,”
“believes,” “predicts,” “potential,” “continue” and similar
expressions (or the negative versions of such words or expressions)
are intended to identify such forward-looking statements. These
forward-looking statements include, without limitation, Freight
Technologies’ and Fr8App’s expectations with respect to future
performance and anticipated financial impacts of its acquisition of
Fr8App.
These forward-looking statements involve significant risks and
uncertainties that could cause the actual results to differ
materially from those discussed in the forward-looking statements.
Most of these factors are outside Freight Technologies’ and
Fr8App’s control and are difficult to predict. Factors that may
cause such differences include, but are not limited to: (1) the
impact of the COVID-19 pandemic on Fr8App’s business; (2) the
inability to obtain or maintain the listing of Freight
Technologies’ ordinary shares on Nasdaq; (3) the ability to
recognize the anticipated benefits of the merger, which may be
affected by, among other things, competition and the ability of
Fr8App to grow, manage growth profitably and retain its key
employees; (4) costs related to the merger; (5) changes in
applicable laws or regulations; (6) the possibility that Freight
Technologies or Fr8App may be adversely affected by other economic,
business and/or competitive factors; (7) risks relating to the
uncertainty of the projected financial information with respect to
Fr8App; (8) risks related to the organic and inorganic growth of
Fr8App’s business and the timing of expected business milestones;
and (9) other risks and uncertainties identified, including those
under “Risk Factors,” to be filed in Freight Technologies' other
filings with the SEC. Freight Technologies cautions that the
foregoing list of factors is not exclusive. Should one or more of
these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those indicated or anticipated by such forward-looking
statements. Freight Technologies and Fr8App caution readers not to
place undue reliance upon any forward-looking statements, which
speak only as of the date made. Freight Technologies and Fr8App do
not undertake or accept any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements
to reflect any change in their expectations or any change in
events, conditions or circumstances on which any such statement is
based.
Fr8Tech Contact:
investors@fr8technologies.com
Corporate Communications
IBN (InvestorBrandNetwork)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com
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