FreightCar America, Inc. (NASDAQ:RAIL) Short Interest Down 12.6% in January

FreightCar America, Inc. (NASDAQ:RAIL) was the recipient of a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 400,100 shares, a drop of 12.6% from the December 31st total of 457,900 shares. Based on an average daily volume of 362,300 shares, the short-interest ratio is currently 1.1 days. Approximately 2.8% of the company’s shares are short sold.

Insider Buying and Selling

In other news, Director James R. Meyer acquired 23,400 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was purchased at an average price of $10.74 per share, with a total value of $251,316.00. Following the purchase, the director now owns 838,278 shares of the company’s stock, valued at approximately $9,003,105.72. This trade represents a 2.87 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 28.00% of the company’s stock.

Institutional Investors Weigh In On FreightCar America

Institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of FreightCar America in the 3rd quarter valued at $1,067,000. Consolidated Portfolio Review Corp bought a new position in FreightCar America in the 4th quarter worth $743,000. Walleye Capital LLC bought a new position in FreightCar America in the 3rd quarter worth $813,000. Centiva Capital LP bought a new position in FreightCar America in the 3rd quarter worth $453,000. Finally, Renaissance Technologies LLC raised its holdings in FreightCar America by 43.4% in the 2nd quarter. Renaissance Technologies LLC now owns 116,887 shares of the transportation company’s stock worth $408,000 after acquiring an additional 35,387 shares during the period. Institutional investors and hedge funds own 31.96% of the company’s stock.

Analyst Ratings Changes

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

FreightCar America Price Performance

Shares of NASDAQ:RAIL opened at $12.21 on Monday. The firm has a fifty day moving average of $10.36 and a two-hundred day moving average of $9.44. FreightCar America has a 12-month low of $2.70 and a 12-month high of $16.10.

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.