Short Interest in FreightCar America, Inc. (NASDAQ:RAIL) Expands By 18.6%

FreightCar America, Inc. (NASDAQ:RAIL) was the target of a significant increase in short interest in 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 shares of the stock are short sold. Based on an average daily volume of 202,600 shares, the days-to-cover ratio is presently 2.0 days.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership grew its holdings in shares of FreightCar America by 125.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 389,018 shares of the transportation company’s stock worth $3,486,000 after purchasing an additional 216,307 shares during the last quarter. Ancora Advisors LLC bought a new stake in shares of FreightCar America during the fourth quarter worth about $2,711,000. Renaissance Technologies LLC grew its holdings in shares of FreightCar America by 128.5% during the fourth quarter. Renaissance Technologies LLC now owns 282,200 shares of the transportation company’s stock worth $2,529,000 after purchasing an additional 158,700 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of FreightCar America during the fourth quarter worth about $2,399,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of FreightCar America by 90.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 188,369 shares of the transportation company’s stock worth $1,688,000 after purchasing an additional 89,471 shares during the last quarter. Institutional investors and hedge funds own 31.96% of the company’s stock.

FreightCar America Trading Down 0.6 %

Shares of NASDAQ RAIL opened at $6.42 on Thursday. The company has a market cap of $122.37 million, a price-to-earnings ratio of -1.51 and a beta of 2.08. FreightCar America has a 12 month low of $3.02 and a 12 month high of $16.10. The stock has a 50-day moving average price of $10.07 and a two-hundred day moving average price of $10.49.

FreightCar America (NASDAQ:RAIL) last issued its earnings results on Wednesday, March 12th. The transportation company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.05 by $0.16. The firm had revenue of $137.70 million during the quarter, compared to the consensus estimate 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, sell-side analysts predict that FreightCar America will post 0.09 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com raised FreightCar America from a “buy” rating to a “strong-buy” rating in a research note on Tuesday.

FreightCar America Company Profile

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.