FreightCar America (NASDAQ:RAIL) Stock Crosses Above 200 Day Moving Average - Should You Sell?

FreightCar America, Inc. (NASDAQ:RAIL - Get Free Report) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $8.94 and traded as high as $12.85. FreightCar America shares last traded at $12.68, with a volume of 229,635 shares changing hands.

Analyst Upgrades and Downgrades

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

FreightCar America Stock Up 5.8 %

The firm has a 50 day moving average of $10.03 and a 200 day moving average of $8.94. The firm has a market cap of $253.31 million, a PE ratio of -3.16 and a beta of 1.96.

Insider Activity at FreightCar America

In other FreightCar America news, Director James R. Meyer purchased 23,400 shares of the stock in a transaction dated Thursday, November 14th. The shares were bought at an average price of $10.74 per share, with a total value of $251,316.00. Following the completion of the transaction, the director now directly owns 838,278 shares in the company, valued at approximately $9,003,105.72. This trade represents a 2.87 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 28.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC purchased a new position in shares of FreightCar America in the third quarter valued at $1,067,000. Walleye Capital LLC bought a new position in FreightCar America in the 3rd quarter worth about $813,000. Centiva Capital LP purchased a new position in FreightCar America during the 3rd quarter valued at about $453,000. Renaissance Technologies LLC increased its position in shares of FreightCar America by 43.4% during the second quarter. Renaissance Technologies LLC now owns 116,887 shares of the transportation company's stock valued at $408,000 after buying an additional 35,387 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of FreightCar America in the third quarter worth about $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.