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

FreightCar America, Inc. (NASDAQ:RAIL) was the recipient of a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 250,800 shares, a growth of 28.8% from the September 30th total of 194,700 shares. Currently, 1.8% of the company’s stock are short sold. Based on an average daily volume of 351,200 shares, the days-to-cover ratio is currently 0.7 days.

Insiders Place Their Bets

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

Hedge Funds Weigh In On FreightCar America

A number of hedge funds have recently bought and sold shares of RAIL. Dimensional Fund Advisors LP grew its stake 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 buying an additional 5,880 shares in the last quarter. Renaissance Technologies LLC grew its stake 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 buying an additional 35,387 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in FreightCar America during the third quarter worth about $1,067,000. Finally, Vanguard Group Inc. grew its stake in 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 buying an additional 26,412 shares in the last quarter. 31.96% of the stock is owned by institutional investors.

FreightCar America Stock Performance

NASDAQ:RAIL opened at $14.23 on Wednesday. FreightCar America has a 52 week low of $2.25 and a 52 week high of $14.91. The firm has a market cap of $268.52 million, a price-to-earnings ratio of -20.33 and a beta of 2.02. The firm’s 50-day simple moving average is $10.33 and its 200 day simple moving average is $5.97.

FreightCar America (NASDAQ:RAIL) last released its quarterly earnings results on Monday, August 12th. The transportation company reported $0.05 EPS for the quarter, hitting analysts’ consensus estimates of $0.05. FreightCar America had a negative net margin of 0.62% and a negative return on equity of 28.11%. The business had revenue of $147.42 million for the quarter, compared to analyst estimates of $127.09 million. During the same period last year, the firm earned $0.02 earnings per share. Sell-side analysts anticipate that FreightCar America will post 0.19 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.