Short Interest in FreightCar America, Inc. (NASDAQ:RAIL) Grows By 18.6%

FreightCar America, Inc. (NASDAQ:RAIL - Get Free Report) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 415,100 shares, an increase of 18.6% from the February 13th total of 350,000 shares. Based on an average trading volume of 202,600 shares, the short-interest ratio is presently 2.0 days. Approximately 2.9% of the shares of the company are short sold.

Analysts Set New Price Targets

Separately, StockNews.com upgraded FreightCar America from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, March 18th.

Hedge Funds Weigh In On FreightCar America

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Consolidated Portfolio Review Corp bought a new stake in FreightCar America during the 4th quarter valued at $743,000. Barclays PLC bought a new stake in shares of FreightCar America during the third quarter valued at about $73,000. JPMorgan Chase & Co. lifted its holdings in FreightCar America by 98.4% in the third 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 period. Walleye Capital LLC bought a new position in FreightCar America in the 3rd quarter valued at about $813,000. Finally, Allspring Global Investments Holdings LLC increased its stake in FreightCar America by 90.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 188,369 shares of the transportation company's stock valued at $1,688,000 after buying an additional 89,471 shares during the period. 31.96% of the stock is owned by institutional investors.

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FreightCar America Stock Down 3.0 %

RAIL stock traded down $0.19 during mid-day trading on Friday, reaching $6.24. The company had a trading volume of 186,847 shares, compared to its average volume of 233,313. The stock's 50-day simple moving average is $9.93 and its two-hundred day simple moving average is $10.47. The stock has a market capitalization of $118.93 million, a P/E ratio of -1.47 and a beta of 2.08. FreightCar America has a one year low of $3.02 and a one year high of $16.10.

FreightCar America (NASDAQ:RAIL - Get Free Report) last issued its quarterly earnings data on Wednesday, March 12th. The transportation company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.16. FreightCar America had a negative net margin of 20.66% and a negative return on equity of 27.10%. The firm had revenue of $137.70 million for the quarter, compared to the consensus estimate of $152.02 million. On average, research analysts forecast that FreightCar America will post 0.09 EPS for the current fiscal year.

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.