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

FreightCar America, Inc. (NASDAQ:RAIL) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 415,100 shares, an increase of 18.6% from the February 13th total of 350,000 shares. Approximately 2.9% of the company’s shares are sold short. Based on an average daily volume of 202,600 shares, the days-to-cover ratio is presently 2.0 days.

FreightCar America Stock Down 1.5 %

NASDAQ:RAIL opened at $6.46 on Wednesday. The company has a fifty day moving average of $10.15 and a 200-day moving average of $10.52. The firm has a market capitalization of $123.13 million, a P/E ratio of -1.52 and a beta of 2.08. FreightCar America has a twelve month low of $3.02 and a twelve month high of $16.10.

FreightCar America (NASDAQ:RAIL) last issued its earnings results on Wednesday, March 12th. The transportation company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.16. The business had revenue of $137.70 million during the quarter, compared to analyst estimates of $152.02 million. FreightCar America had a negative return on equity of 27.10% and a negative net margin of 20.66%. On average, analysts anticipate that FreightCar America will post 0.09 EPS for the current fiscal year.

Institutional Trading of FreightCar America

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quantbot Technologies LP acquired a new position in shares of FreightCar America during the third quarter valued at about $49,000. JPMorgan Chase & Co. grew its holdings in shares of FreightCar America by 98.4% during the third quarter. JPMorgan Chase & Co. now owns 4,599 shares of the transportation company’s stock valued at $50,000 after buying an additional 2,281 shares during the last quarter. Globeflex Capital L P acquired a new position in shares of FreightCar America during the fourth quarter valued at about $69,000. Barclays PLC bought a new stake in FreightCar America during the third quarter worth $73,000. Finally, Ritholtz Wealth Management purchased a new stake in FreightCar America in the 4th quarter valued at $104,000. Institutional investors own 31.96% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of FreightCar America from a “buy” rating to a “strong-buy” rating in a report 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.