FreightCar America (NASDAQ:RAIL) Stock Crosses Above 200-Day Moving Average - Here's Why

FreightCar America, Inc. (NASDAQ:RAIL - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.97 and traded as high as $9.62. FreightCar America shares last traded at $9.55, with a volume of 166,849 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised FreightCar America from a "hold" rating to a "buy" rating in a report on Wednesday, November 13th.

FreightCar America Price Performance

The company has a market capitalization of $174.39 million, a price-to-earnings ratio of -2.18 and a beta of 1.94. The firm's 50-day simple moving average is $11.11 and its two-hundred day simple moving average is $7.98.

Insider Activity

In other FreightCar America news, Director James R. Meyer bought 23,400 shares of FreightCar America stock in a transaction that occurred on Thursday, November 14th. The shares were purchased at an average cost of $10.74 per share, for a total transaction of $251,316.00. Following the completion of the transaction, the director now owns 838,278 shares of the company's stock, valued at $9,003,105.72. This represents a 2.87 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 28.00% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RAIL. Quantbot Technologies LP acquired a new position in shares of FreightCar America in the 3rd quarter valued at about $49,000. JPMorgan Chase & Co. lifted its position in FreightCar America by 98.4% during the third quarter. JPMorgan Chase & Co. now owns 4,599 shares of the transportation company's stock valued at $50,000 after buying an additional 2,281 shares in the last quarter. Barclays PLC purchased a new stake in FreightCar America during the third quarter worth approximately $73,000. Dimensional Fund Advisors LP grew its stake in FreightCar America by 24.4% during the second quarter. Dimensional Fund Advisors LP now owns 29,932 shares of the transportation company's stock worth $104,000 after buying an additional 5,880 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of FreightCar America in the third quarter worth $247,000. 31.96% of the stock is currently owned by hedge funds and other institutional investors.

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.