FreightCar America (NASDAQ:RAIL) Shares Pass Above 200 Day Moving Average – Here’s Why

FreightCar America, Inc. (NASDAQ:RAIL) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $5.67 and traded as high as $12.79. FreightCar America shares last traded at $12.73, with a volume of 204,962 shares trading hands.

Wall Street Analysts Forecast Growth

RAIL has been the subject of several research reports. StockNews.com cut shares of FreightCar America from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Noble Financial upgraded FreightCar America to a “strong-buy” rating in a report on Friday, June 28th.

FreightCar America Stock Performance

The firm has a market capitalization of $274.94 million, a PE ratio of -20.96 and a beta of 2.02. The company has a fifty day simple moving average of $9.80 and a two-hundred day simple moving average of $5.73.

FreightCar America (NASDAQ:RAIL) last issued its earnings results on Monday, August 12th. The transportation company reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. FreightCar America had a negative net margin of 0.62% and a negative return on equity of 28.11%. The company had revenue of $147.42 million for the quarter, compared to analysts’ expectations of $127.09 million. During the same period in the prior year, the business earned $0.02 EPS. On average, equities analysts anticipate that FreightCar America, Inc. will post 0.2 earnings per share for the current fiscal year.

Insider Buying and Selling at FreightCar America

In related news, Director William D. Gehl sold 10,000 shares of the company’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 transaction, the director now directly owns 147,608 shares of the company’s stock, valued at $1,598,594.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Nigris Felan Jose De purchased 4,000 shares of the stock in a transaction on Friday, September 27th. The stock was bought at an average price of $10.19 per share, with a total value of $40,760.00. Following the transaction, the director now owns 73,147 shares in the company, valued at $745,367.93. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value 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. 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 insiders.

Institutional Investors Weigh In On FreightCar America

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in FreightCar America by 4.7% during the first quarter. Vanguard Group Inc. now owns 584,292 shares of the transportation company’s stock valued at $2,250,000 after acquiring an additional 26,412 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of FreightCar America by 24.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 29,932 shares of the transportation company’s stock worth $104,000 after purchasing an additional 5,880 shares during the period. Renaissance Technologies LLC increased its holdings in shares of 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of FreightCar America in the 3rd quarter valued at $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.