FreightCar America (NASDAQ:RAIL) Upgraded at StockNews.com

StockNews.com upgraded shares of FreightCar America (NASDAQ:RAIL) from a hold rating to a buy rating in a report published on Wednesday morning.

FreightCar America Stock Performance

RAIL stock opened at $9.90 on Wednesday. The company’s 50 day moving average is $11.81 and its 200 day moving average is $6.80. FreightCar America has a 1-year low of $2.25 and a 1-year high of $16.10.

Insiders Place Their Bets

In other news, Director William D. Gehl sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $10.83, for a total value of $108,300.00. Following the transaction, the director now owns 147,608 shares in the company, valued at approximately $1,598,594.64. This trade represents a 6.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nigris Felan Jose De purchased 4,000 shares of the business’s stock in a transaction on Friday, September 27th. The stock was purchased at an average cost of $10.19 per share, for a total transaction of $40,760.00. Following the acquisition, the director now owns 73,147 shares in the company, valued at approximately $745,367.93. The trade was a 5.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 28.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC bought a new stake in FreightCar America during the 3rd quarter valued at approximately $1,067,000. Walleye Capital LLC purchased a new position in shares of FreightCar America in the 3rd quarter valued at approximately $813,000. Centiva Capital LP bought a new stake in shares of FreightCar America during the third quarter valued at approximately $453,000. Renaissance Technologies LLC grew 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 worth $408,000 after purchasing an additional 35,387 shares during the period. Finally, Vanguard Group Inc. raised its holdings in FreightCar America by 4.7% in the first quarter. Vanguard Group Inc. now owns 584,292 shares of the transportation company’s stock worth $2,250,000 after purchasing an additional 26,412 shares in the last quarter. 31.96% of the stock is currently owned by institutional investors.

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.