FreightCar America, Inc. (NASDAQ:RAIL) Sees Significant Increase in Short Interest

FreightCar America, Inc. (NASDAQ:RAIL - Get Free Report) was the target of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 250,800 shares, an increase of 28.8% from the September 30th total of 194,700 shares. Approximately 1.8% of the shares of the company are short sold. Based on an average daily trading volume, of 351,200 shares, the days-to-cover ratio is currently 0.7 days.

FreightCar America Stock Down 1.7 %

Shares of NASDAQ RAIL traded down $0.25 during trading on Monday, hitting $14.32. The company had a trading volume of 459,795 shares, compared to its average volume of 142,199. The firm has a market capitalization of $270.22 million, a price-to-earnings ratio of -20.46 and a beta of 2.02. The stock has a fifty day simple moving average of $10.16 and a two-hundred day simple moving average of $5.90. FreightCar America has a fifty-two week low of $2.25 and a fifty-two week high of $14.91.

FreightCar America (NASDAQ:RAIL - Get Free Report) last posted its quarterly earnings data on Monday, August 12th. The transportation company reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05. The company had revenue of $147.42 million during the quarter, compared to analyst estimates of $127.09 million. FreightCar America had a negative return on equity of 28.11% and a negative net margin of 0.62%. During the same period in the previous year, the business earned $0.02 EPS. On average, analysts anticipate that FreightCar America will post 0.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded FreightCar America from a "buy" rating to a "hold" rating in a research note on Friday, September 27th.

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew 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 worth $104,000 after buying an additional 5,880 shares in the last quarter. Renaissance Technologies LLC grew its stake 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 acquiring an additional 35,387 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in FreightCar America during the 3rd quarter valued at about $1,067,000. Finally, Vanguard Group Inc. raised its holdings in FreightCar America by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 584,292 shares of the transportation company's stock valued at $2,250,000 after acquiring an additional 26,412 shares during the last quarter. 31.96% of the stock is owned by institutional investors and hedge funds.

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.