FreightCar America (NASDAQ:RAIL) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

FreightCar America, Inc. (NASDAQ:RAIL) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.67 and traded as high as $12.79. FreightCar America shares last traded at $12.73, with a volume of 204,962 shares.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. StockNews.com cut shares of FreightCar America from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Noble Financial raised shares of FreightCar America to a “strong-buy” rating in a research note on Friday, June 28th.

FreightCar America Price Performance

The stock has a market capitalization of $240.22 million, a price-to-earnings ratio of -18.19 and a beta of 2.02. The business has a fifty day moving average of $9.61 and a 200 day moving average of $5.67.

FreightCar America (NASDAQ:RAIL) last issued its quarterly earnings data on Monday, August 12th. The transportation company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. FreightCar America had a negative net margin of 0.62% and a negative return on equity of 28.11%. The firm had revenue of $147.42 million for the quarter, compared to analyst estimates of $127.09 million. During the same period in the previous year, the firm earned $0.02 EPS. On average, equities research analysts expect that FreightCar America, Inc. will post 0.2 EPS for the current year.

Insider Activity

In other news, Director Nigris Felan Jose De acquired 4,000 shares of FreightCar America 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 $745,367.93. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Nigris Felan Jose De acquired 4,000 shares of the business’s stock in a transaction on Friday, September 27th. The shares were bought at an average price of $10.19 per share, with a total value of $40,760.00. Following the completion of the acquisition, the director now owns 73,147 shares in the company, valued at $745,367.93. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William D. Gehl sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $10.83, for a total transaction of $108,300.00. Following the sale, the director now owns 147,608 shares of the company’s stock, valued at $1,598,594.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 28.00% of the company’s stock.

Hedge Funds Weigh In On FreightCar America

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of FreightCar America by 4.7% during the first 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 raised its holdings in FreightCar America by 24.4% during the second 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 in the last quarter. Renaissance Technologies LLC raised its holdings in FreightCar America by 43.4% during the second quarter. Renaissance Technologies LLC now owns 116,887 shares of the transportation company’s stock worth $408,000 after purchasing an additional 35,387 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in FreightCar America in the third quarter valued at about $1,067,000. 31.96% of the stock is currently owned by hedge funds and other institutional investors.

About FreightCar America

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.