FreightCar America, Inc. (NASDAQ:RAIL) Short Interest Update

FreightCar America, Inc. (NASDAQ:RAIL) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 442,400 shares, an increase of 76.4% from the October 15th total of 250,800 shares. Based on an average trading volume of 450,100 shares, the days-to-cover ratio is currently 1.0 days. Currently, 3.1% of the shares of the stock are sold short.

FreightCar America Price Performance

FreightCar America stock traded down $0.31 during midday trading on Wednesday, reaching $9.86. The company’s stock had a trading volume of 1,309,765 shares, compared to its average volume of 174,358. The stock’s 50 day simple moving average is $11.68 and its 200 day simple moving average is $6.68. FreightCar America has a fifty-two week low of $2.25 and a fifty-two week high of $16.10.

FreightCar America (NASDAQ:RAIL) last posted its quarterly earnings results on Monday, August 12th. The transportation company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. The company had revenue of $147.42 million during the quarter, compared to analysts’ expectations of $127.09 million. FreightCar America had a negative return on equity of 41.24% and a negative net margin of 20.66%. During the same quarter in the previous year, the business earned $0.02 EPS. As a group, analysts predict that FreightCar America will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Nigris Felan Jose De purchased 4,000 shares of the stock in a transaction dated Friday, September 27th. The shares were acquired at an average cost of $10.19 per share, for a total transaction of $40,760.00. Following the acquisition, the director now owns 73,147 shares of the company’s stock, valued at approximately $745,367.93. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director William D. Gehl sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $10.83, for a total value of $108,300.00. Following the sale, the director now directly owns 147,608 shares in the company, valued at approximately $1,598,594.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nigris Felan Jose De purchased 4,000 shares of the business’s stock in a transaction on Friday, September 27th. The shares were acquired at an average price of $10.19 per share, for a total transaction of $40,760.00. Following the completion of the purchase, the director now directly owns 73,147 shares of the company’s stock, valued at approximately $745,367.93. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 28.00% of the stock is owned by company insiders.

Institutional Trading of FreightCar America

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RAIL. Vanguard Group Inc. grew its holdings in shares of FreightCar America by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 584,292 shares of the transportation company’s stock worth $2,250,000 after purchasing an additional 26,412 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of FreightCar America by 24.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 29,932 shares of the transportation company’s stock worth $104,000 after purchasing an additional 5,880 shares during the period. Renaissance Technologies LLC lifted its position in FreightCar America by 43.4% during the 2nd quarter. Renaissance Technologies LLC now owns 116,887 shares of the transportation company’s stock worth $408,000 after acquiring an additional 35,387 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in FreightCar America during the 3rd quarter worth approximately $1,067,000. Finally, Quantbot Technologies LP acquired a new stake in shares of FreightCar America during the 3rd quarter valued at approximately $49,000. Hedge funds and other institutional investors own 31.96% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of FreightCar America from a “buy” rating to a “hold” rating in a research report on Friday, September 27th.

FreightCar America Company Profile

FreightCar America, Inc, through its subsidiaries, engages in design, manufacture, and sale of railcars and railcar components for the transportation of bulk commodities and containerized freight products in the United States and Mexico. It operates in two segments, Manufacturing and Parts. The company offers a range of railcars, including open top hoppers, mill gondola cars, intermodal and non-intermodal flat cars, coal cars; bulk commodity cars covered hopper cars, coil steel cars, boxcars, woodchip hoppers, aluminum vehicle carriers, and articulated bulk container railcars.