FreightCar America (NASDAQ:RAIL) Stock Passes Above 200 Day Moving Average – Time to Sell?

FreightCar America, Inc. (NASDAQ:RAIL)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.22 and traded as high as $10.55. FreightCar America shares last traded at $10.21, with a volume of 327,414 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of FreightCar America from a “hold” rating to a “buy” rating in a research report on Wednesday, November 13th.

FreightCar America Price Performance

The company’s 50-day simple moving average is $10.63 and its two-hundred day simple moving average is $8.22. The firm has a market capitalization of $192.91 million, a P/E ratio of -2.41 and a beta of 1.94.

Insider Buying and Selling

In other news, Director James R. Meyer bought 23,400 shares of FreightCar America stock in a transaction that occurred on Thursday, November 14th. The stock was bought at an average cost of $10.74 per share, with a total value of $251,316.00. Following the acquisition, the director now owns 838,278 shares of the company’s stock, valued at $9,003,105.72. The trade was a 2.87 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 28.00% of the stock is owned by insiders.

Hedge Funds Weigh In On FreightCar America

Hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new stake in shares of FreightCar America during the 3rd quarter valued at $1,067,000. Walleye Capital LLC purchased a new stake in FreightCar America in the 3rd quarter worth $813,000. Centiva Capital LP bought a new stake in FreightCar America during the third quarter valued at about $453,000. Renaissance Technologies LLC lifted its position in shares of FreightCar America by 43.4% in the second quarter. Renaissance Technologies LLC now owns 116,887 shares of the transportation company’s stock valued at $408,000 after acquiring an additional 35,387 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of FreightCar America in the third quarter worth about $247,000. 31.96% of the stock is currently owned by 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.