FreightCar America (NASDAQ:RAIL) Shares Pass Above 200-Day Moving Average – Should You Sell?

FreightCar America, Inc. (NASDAQ:RAIL) shares 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.

Analyst Ratings Changes

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

FreightCar America Price Performance

The stock’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 cap of $192.91 million, a P/E ratio of -2.41 and a beta of 1.94.

Insider Activity at FreightCar America

In other news, Director James R. Meyer purchased 23,400 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were bought at an average price of $10.74 per share, for a total transaction of $251,316.00. Following the purchase, the director now directly owns 838,278 shares in the company, valued at approximately $9,003,105.72. This trade represents a 2.87 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 28.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RAIL. JPMorgan Chase & Co. increased its position in shares of FreightCar America by 98.4% during the third quarter. JPMorgan Chase & Co. now owns 4,599 shares of the transportation company’s stock valued at $50,000 after acquiring an additional 2,281 shares in the last quarter. Barclays PLC bought a new stake in shares of FreightCar America in the 3rd quarter worth $73,000. Geode Capital Management LLC raised its stake in shares of FreightCar America by 12.4% in the third quarter. Geode Capital Management LLC now owns 180,618 shares of the transportation company’s stock worth $1,950,000 after purchasing an additional 19,890 shares during the last quarter. XTX Topco Ltd bought a new position in shares of FreightCar America during the third quarter valued at $247,000. Finally, State Street Corp boosted its position in shares of FreightCar America by 21.6% during the third quarter. State Street Corp now owns 53,958 shares of the transportation company’s stock valued at $582,000 after buying an additional 9,600 shares during the last quarter. Institutional investors own 31.96% of the company’s stock.

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.