FreightCar America, Inc. (NASDAQ:RAIL) Sees Significant Growth in Short Interest

FreightCar America, Inc. (NASDAQ:RAIL) saw a significant growth in short interest in 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. Approximately 1.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 351,200 shares, the short-interest ratio is currently 0.7 days.

FreightCar America Price Performance

Shares of FreightCar America stock opened at $14.57 on Monday. FreightCar America has a one year low of $2.25 and a one year high of $14.91. The business’s 50 day simple moving average is $9.99 and its two-hundred day simple moving average is $5.83. The stock has a market capitalization of $274.94 million, a P/E ratio of -20.81 and a beta of 2.02.

FreightCar America (NASDAQ:RAIL) last posted its earnings results on Monday, August 12th. The transportation company reported $0.05 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.05. The company had revenue of $147.42 million during the quarter, compared to analyst estimates of $127.09 million. FreightCar America had a negative net margin of 0.62% and a negative return on equity of 28.11%. During the same period in the prior year, the business posted $0.02 earnings per share. Sell-side analysts expect that FreightCar America will post 0.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity at FreightCar America

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in FreightCar America by 4.7% in 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. Dimensional Fund Advisors LP boosted its holdings in FreightCar America by 24.4% in the second quarter. Dimensional Fund Advisors LP now owns 29,932 shares of the transportation company’s stock worth $104,000 after acquiring an additional 5,880 shares in the last quarter. Renaissance Technologies LLC grew 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 valued at $408,000 after purchasing an additional 35,387 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of FreightCar America during the third quarter valued at approximately $1,067,000. 31.96% of the stock is 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.