FreightCar America, Inc. (NASDAQ:RAIL) Short Interest Update

FreightCar America, Inc. (NASDAQ:RAIL - Get Free Report) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 587,800 shares, a growth of 41.6% from the February 28th total of 415,100 shares. Based on an average trading volume of 229,500 shares, the days-to-cover ratio is presently 2.6 days. Currently, 4.1% of the company's stock are sold short.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut FreightCar America from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 26th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Ancora Advisors LLC acquired a new position in shares of FreightCar America in the 4th quarter worth approximately $2,711,000. Marshall Wace LLP acquired a new stake in FreightCar America in the fourth quarter worth $2,399,000. Arrowstreet Capital Limited Partnership grew its position in shares of FreightCar America by 125.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 389,018 shares of the transportation company's stock valued at $3,486,000 after purchasing an additional 216,307 shares during the period. Renaissance Technologies LLC increased its position in shares of FreightCar America by 128.5% during the fourth quarter. Renaissance Technologies LLC now owns 282,200 shares of the transportation company's stock worth $2,529,000 after acquiring an additional 158,700 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings 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 worth $1,688,000 after purchasing an additional 89,471 shares in the last quarter. 31.96% of the stock is currently owned by institutional investors and hedge funds.

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FreightCar America Price Performance

RAIL traded down $0.35 during midday trading on Thursday, hitting $5.00. 206,632 shares of the company's stock traded hands, compared to its average volume of 240,398. The company has a market cap of $95.30 million, a PE ratio of -1.18 and a beta of 2.02. FreightCar America has a one year low of $3.02 and a one year high of $16.10. The stock's fifty day simple moving average is $8.83 and its 200-day simple moving average is $10.28.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $152.02 million. On average, research analysts expect that FreightCar America will post 0.09 EPS for the current 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.