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

FreightCar America, Inc. (NASDAQ:RAIL) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 415,100 shares, an increase of 18.6% from the February 13th total of 350,000 shares. Currently, 2.9% of the company’s shares are sold short. Based on an average trading volume of 202,600 shares, the days-to-cover ratio is currently 2.0 days.

Institutional Trading of FreightCar America

Hedge funds and other institutional investors have recently modified their holdings of the business. Quantbot Technologies LP purchased a new stake in shares of FreightCar America in the 3rd quarter worth about $49,000. JPMorgan Chase & Co. grew its position in shares of FreightCar America by 98.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,599 shares of the transportation company’s stock worth $50,000 after buying an additional 2,281 shares during the period. Barclays PLC purchased a new stake in shares of FreightCar America in the 3rd quarter worth about $73,000. Globeflex Capital L P purchased a new stake in shares of FreightCar America in the 4th quarter worth about $69,000. Finally, Ritholtz Wealth Management purchased a new stake in shares of FreightCar America in the 4th quarter worth about $104,000. 31.96% of the stock is owned by hedge funds and other institutional investors.

FreightCar America Stock Up 0.2 %

NASDAQ:RAIL opened at $6.43 on Friday. The company has a fifty day moving average of $10.00 and a 200 day moving average of $10.46. FreightCar America has a 52 week low of $3.02 and a 52 week high of $16.10. The firm has a market capitalization of $122.56 million, a P/E ratio of -1.52 and a beta of 2.08.

FreightCar America (NASDAQ:RAIL) last issued its quarterly earnings data on Wednesday, March 12th. The transportation company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.05 by $0.16. FreightCar America had a negative net margin of 20.66% and a negative return on equity of 27.10%. The business had revenue of $137.70 million during the quarter, compared to analyst estimates of $152.02 million. As a group, analysts anticipate that FreightCar America will post 0.09 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of FreightCar America from a “buy” rating to a “strong-buy” rating in a report on Tuesday.

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.