FreightCar America (NASDAQ:RAIL) Stock Passes Above 200-Day Moving Average – What’s Next?

FreightCar America, Inc. (NASDAQ:RAIL)’s share price 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 traded.

Analyst Ratings Changes

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

FreightCar America Stock Up 7.0 %

The firm has a 50-day moving average of $10.63 and a two-hundred day moving average of $8.25. The stock has a market capitalization of $192.91 million, a price-to-earnings ratio of -2.41 and a beta of 1.96.

Insider Transactions at FreightCar America

In related news, Director James R. Meyer purchased 23,400 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were acquired at an average cost of $10.74 per share, with a total value of $251,316.00. Following the completion of the purchase, the director now owns 838,278 shares of the company’s stock, valued at $9,003,105.72. The trade was a 2.87 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 28.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RAIL. Quantbot Technologies LP acquired a new stake in shares of FreightCar America during the 3rd quarter valued at about $49,000. JPMorgan Chase & Co. increased its stake in shares of FreightCar America by 98.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,599 shares of the transportation company’s stock worth $50,000 after purchasing an additional 2,281 shares during the last quarter. Barclays PLC bought a new position in shares of FreightCar America during the 3rd quarter valued at $73,000. Dimensional Fund Advisors LP lifted its stake in shares of FreightCar America by 24.4% in the 2nd 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 last quarter. Finally, XTX Topco Ltd bought a new stake in FreightCar America in the third quarter worth $247,000. Hedge funds and other 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.