FreightCar America, Inc. (NASDAQ:RAIL) Short Interest Update

FreightCar America, Inc. (NASDAQ:RAIL) saw a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 587,800 shares, an increase of 41.6% from the February 28th total of 415,100 shares. Approximately 4.1% of the company’s stock are short sold. Based on an average daily trading volume, of 229,500 shares, the days-to-cover ratio is presently 2.6 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded FreightCar America from a “strong-buy” rating to a “buy” rating in a report on Wednesday.

Institutional Trading of FreightCar America

Hedge funds and other institutional investors have recently made changes to their positions in the business. Consolidated Portfolio Review Corp purchased a new stake in FreightCar America in the fourth quarter valued at $743,000. Barclays PLC purchased a new stake in FreightCar America in the 3rd quarter worth approximately $73,000. JPMorgan Chase & Co. grew its stake in shares of FreightCar America by 98.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,599 shares of the transportation company’s stock worth $50,000 after purchasing an additional 2,281 shares during the period. Walleye Capital LLC purchased a new position in shares of FreightCar America during the 3rd quarter valued at approximately $813,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of FreightCar America by 90.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 188,369 shares of the transportation company’s stock valued at $1,688,000 after purchasing an additional 89,471 shares during the period. Institutional investors and hedge funds own 31.96% of the company’s stock.

FreightCar America Stock Performance

RAIL stock traded down $0.32 during midday trading on Friday, reaching $5.64. The stock had a trading volume of 209,464 shares, compared to its average volume of 238,744. The firm has a fifty day simple moving average of $9.42 and a two-hundred day simple moving average of $10.41. The stock has a market cap of $107.50 million, a PE ratio of -1.33 and a beta of 2.08. FreightCar America has a 52-week low of $3.02 and a 52-week high of $16.10.

FreightCar America (NASDAQ:RAIL) last released its earnings results on Wednesday, March 12th. The transportation company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.16. FreightCar America had a negative return on equity of 27.10% and a negative net margin of 20.66%. The firm had revenue of $137.70 million during the quarter, compared to the consensus estimate of $152.02 million. On average, sell-side analysts predict that FreightCar America will post 0.09 EPS 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.