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

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

Insider Activity

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

Institutional Investors Weigh In On FreightCar America

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in FreightCar America by 4.7% in the first 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 in the last quarter. Renaissance Technologies LLC boosted its stake in FreightCar America by 43.4% in the second 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 acquired a new stake in FreightCar America in the third quarter valued at approximately $1,067,000. Finally, Dimensional Fund Advisors LP boosted its stake in FreightCar America by 24.4% in the second quarter. Dimensional Fund Advisors LP now owns 29,932 shares of the transportation company's stock valued at $104,000 after acquiring an additional 5,880 shares in the last quarter. 31.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

FreightCar America Stock Performance

NASDAQ RAIL opened at $14.57 on Monday. The company has a market cap of $274.94 million, a PE ratio of -20.81 and a beta of 2.02. The firm's 50 day moving average price is $9.99 and its 200-day moving average price is $5.83. FreightCar America has a 52-week low of $2.25 and a 52-week high of $14.91.

FreightCar America (NASDAQ:RAIL - Get Free Report) last issued its quarterly earnings data on Monday, August 12th. The transportation company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. The company had revenue of $147.42 million for the quarter, compared to analyst estimates 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 period last year, the company posted $0.02 earnings per share. On average, analysts forecast that FreightCar America will post 0.2 earnings per share for the current fiscal year.

About FreightCar America

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.