FreightCar America (NASDAQ:RAIL) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

FreightCar America, Inc. (NASDAQ:RAIL)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $8.94 and traded as high as $12.85. FreightCar America shares last traded at $12.68, with a volume of 229,635 shares trading hands.

Analyst Upgrades and Downgrades

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

FreightCar America Price Performance

The stock’s 50 day simple moving average is $10.03 and its two-hundred day simple moving average is $8.94. The stock has a market capitalization of $239.53 million, a PE ratio of -2.99 and a beta of 1.96.

Insider Activity at FreightCar America

In other news, Director James R. Meyer bought 23,400 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was acquired at an average cost of $10.74 per share, with a total value of $251,316.00. Following the completion of the transaction, the director now directly owns 838,278 shares of the company’s stock, valued at $9,003,105.72. This represents a 2.87 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 28.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in 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 acquiring an additional 2,281 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of FreightCar America in the third quarter worth about $49,000. Dimensional Fund Advisors LP raised its position in shares of FreightCar America by 24.4% in the second quarter. Dimensional Fund Advisors LP now owns 29,932 shares of the transportation company’s stock valued at $104,000 after purchasing an additional 5,880 shares during the period. Barclays PLC purchased a new stake in shares of FreightCar America during the 3rd quarter valued at approximately $73,000. Finally, State Street Corp boosted its holdings in FreightCar America by 21.6% in the 3rd quarter. State Street Corp now owns 53,958 shares of the transportation company’s stock worth $582,000 after buying an additional 9,600 shares during the period. Hedge funds and other institutional investors own 31.96% of the company’s stock.

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.