Short Interest in FreightCar America, Inc. (NASDAQ:RAIL) Declines By 12.6%

FreightCar America, Inc. (NASDAQ:RAIL - Get Free Report) saw a large drop in short interest during the month of January. As of January 15th, there was short interest totalling 400,100 shares, a drop of 12.6% from the December 31st total of 457,900 shares. Based on an average daily trading volume, of 362,300 shares, the days-to-cover ratio is presently 1.1 days. Approximately 2.8% of the shares of the company are sold short.

Insider Transactions at FreightCar America

In related news, Director James R. Meyer bought 23,400 shares of the business's stock in a transaction dated Thursday, November 14th. The stock was bought at an average price of $10.74 per share, for a total transaction of $251,316.00. Following the purchase, the director now owns 838,278 shares in the company, valued at $9,003,105.72. This 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 hyperlink. 28.00% of the stock is currently owned by corporate insiders.

Institutional Trading of FreightCar America

Several hedge funds and other institutional investors have recently bought and sold shares of RAIL. Dimensional Fund Advisors LP raised its position in shares of FreightCar America by 24.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 29,932 shares of the transportation company's stock valued at $104,000 after buying an additional 5,880 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of FreightCar America by 43.4% in 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 acquired a new position in shares of FreightCar America in the 3rd quarter valued at approximately $1,067,000. Quantbot Technologies LP acquired a new position in shares of FreightCar America in the 3rd quarter valued at approximately $49,000. Finally, Walleye Capital LLC acquired a new position in shares of FreightCar America in the 3rd quarter valued at approximately $813,000. Institutional investors and hedge funds own 31.96% of the company's stock.

FreightCar America Price Performance

FreightCar America stock traded up $0.53 during midday trading on Wednesday, hitting $12.74. The company's stock had a trading volume of 187,329 shares, compared to its average volume of 183,902. FreightCar America has a 1-year low of $2.70 and a 1-year high of $16.10. The company has a 50-day moving average price of $10.45 and a two-hundred day moving average price of $9.56. The company has a market cap of $240.60 million, a price-to-earnings ratio of -3.01 and a beta of 1.96.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of FreightCar America from a "buy" rating to a "hold" rating in a research note on Tuesday.

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.