Short Interest in FreightCar America, Inc. (NASDAQ:RAIL) Drops By 19.8%

FreightCar America, Inc. (NASDAQ:RAIL) was the recipient of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 321,000 shares, a decline of 19.8% from the January 15th total of 400,100 shares. Based on an average daily volume of 318,500 shares, the short-interest ratio is currently 1.0 days. Approximately 2.3% of the company’s shares are short sold.

Institutional Trading of FreightCar America

Hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new position in shares of FreightCar America during the third quarter worth about $49,000. JPMorgan Chase & Co. grew its position in FreightCar America by 98.4% in the third quarter. JPMorgan Chase & Co. now owns 4,599 shares of the transportation company’s stock valued at $50,000 after purchasing an additional 2,281 shares in the last quarter. Barclays PLC acquired a new stake in FreightCar America in the 3rd quarter valued at $73,000. Globeflex Capital L P bought a new stake in FreightCar America during the 4th quarter worth about $69,000. Finally, Ritholtz Wealth Management acquired a new position in shares of FreightCar America during the 4th quarter worth about $104,000. 31.96% of the stock is currently owned by institutional investors and hedge funds.

FreightCar America Stock Down 6.3 %

NASDAQ:RAIL traded down $0.75 on Friday, reaching $11.17. The company’s stock had a trading volume of 227,967 shares, compared to its average volume of 168,354. The business’s 50-day moving average price is $10.86 and its two-hundred day moving average price is $10.04. FreightCar America has a 1-year low of $2.86 and a 1-year high of $16.10.

Wall Street Analyst Weigh In

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

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.