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

FreightCar America, Inc. (NASDAQ:RAIL - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.67 and traded as high as $12.79. FreightCar America shares last traded at $12.73, with a volume of 204,962 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RAIL shares. Noble Financial raised shares of FreightCar America to a "strong-buy" rating in a report on Friday, June 28th. StockNews.com downgraded shares of FreightCar America from a "buy" rating to a "hold" rating in a report on Friday, September 27th.

FreightCar America Trading Up 10.7 %

The stock has a 50-day moving average price of $9.61 and a 200-day moving average price of $5.67.

FreightCar America (NASDAQ:RAIL - Get Free Report) last released its quarterly earnings results on Monday, August 12th. The transportation company reported $0.05 EPS for the quarter, hitting analysts' consensus estimates of $0.05. The business had revenue of $147.42 million during the quarter, compared to analysts' expectations of $127.09 million. FreightCar America had a negative net margin of 0.62% and a negative return on equity of 28.11%. During the same quarter in the previous year, the company earned $0.02 EPS. On average, sell-side analysts forecast that FreightCar America, Inc. will post 0.2 earnings per share for the current year.

Insider Transactions at FreightCar America

In other FreightCar America news, Director Nigris Felan Jose De purchased 4,000 shares of the firm's stock in a transaction on Friday, September 27th. The shares were purchased at an average cost of $10.19 per share, with a total value of $40,760.00. Following the completion of the purchase, the director now owns 73,147 shares of the company's stock, valued at $745,367.93. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Nigris Felan Jose De bought 4,000 shares of the firm's stock in a transaction that occurred on Friday, September 27th. The shares were bought at an average cost of $10.19 per share, with a total value of $40,760.00. Following the completion of the purchase, the director now directly owns 73,147 shares in the company, valued at $745,367.93. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director William D. Gehl sold 10,000 shares of the firm's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $10.83, for a total transaction of $108,300.00. Following the completion of the sale, the director now directly owns 147,608 shares in the company, valued at approximately $1,598,594.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 28.00% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of RAIL. Dimensional Fund Advisors LP lifted its holdings in shares of FreightCar America by 24.4% during the second quarter. Dimensional Fund Advisors LP now owns 29,932 shares of the transportation company's stock valued at $104,000 after purchasing an additional 5,880 shares during the last quarter. Renaissance Technologies LLC increased its position in FreightCar America by 43.4% during the 2nd 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 in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in FreightCar America during the third quarter valued at $1,067,000. Finally, Vanguard Group Inc. boosted its holdings in FreightCar America by 4.7% in the first quarter. Vanguard Group Inc. now owns 584,292 shares of the transportation company's stock worth $2,250,000 after acquiring an additional 26,412 shares in the last quarter. 31.96% of the stock is 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.