FreightCar America, Inc. (NASDAQ:RAIL) Short Interest Down 16.1% in April

FreightCar America, Inc. (NASDAQ:RAILGet Rating) was the target of a significant decrease in short interest during the month of April. As of April 30th, there was short interest totalling 504,300 shares, a decrease of 16.1% from the April 15th total of 600,900 shares. Approximately 4.7% of the company’s shares are short sold. Based on an average daily volume of 231,200 shares, the days-to-cover ratio is currently 2.2 days.

Several brokerages have issued reports on RAIL. Zacks Investment Research downgraded FreightCar America from a “buy” rating to a “hold” rating in a report on Saturday, March 19th. StockNews.com downgraded FreightCar America from a “hold” rating to a “sell” rating in a report on Friday.

Shares of FreightCar America stock opened at $4.26 on Tuesday. FreightCar America has a 1 year low of $3.06 and a 1 year high of $7.69. The business has a 50-day moving average of $5.17 and a two-hundred day moving average of $4.36. The company has a market capitalization of $70.23 million, a P/E ratio of -3.70 and a beta of 2.23.

FreightCar America (NASDAQ:RAILGet Rating) last posted its quarterly earnings data on Tuesday, May 10th. The transportation company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.14). The firm had revenue of $93.24 million for the quarter. FreightCar America had a negative return on equity of 3,048.14% and a negative net margin of 10.05%. During the same period in the prior year, the company earned ($0.48) earnings per share. On average, equities research analysts expect that FreightCar America will post -0.27 EPS for the current fiscal year.

In related news, major shareholder Benavides Alejandro Gil acquired 47,090 shares of the company’s stock in a transaction that occurred on Wednesday, May 11th. The stock was acquired at an average price of $3.70 per share, for a total transaction of $174,233.00. Following the completion of the acquisition, the insider now owns 127,000 shares of the company’s stock, valued at approximately $469,900. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James R. Meyer acquired 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 11th. The stock was bought at an average price of $3.64 per share, with a total value of $91,000.00. Following the acquisition, the chief executive officer now directly owns 433,101 shares of the company’s stock, valued at approximately $1,576,487.64. The disclosure for this purchase can be found here. Insiders purchased 81,940 shares of company stock valued at $299,511 in the last quarter. 15.52% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Allianz Asset Management GmbH boosted its position in shares of FreightCar America by 69.9% during the first quarter. Allianz Asset Management GmbH now owns 693,077 shares of the transportation company’s stock worth $4,096,000 after buying an additional 285,119 shares during the period. Minerva Advisors LLC boosted its position in FreightCar America by 9.3% during the fourth quarter. Minerva Advisors LLC now owns 671,281 shares of the transportation company’s stock valued at $2,470,000 after purchasing an additional 57,160 shares during the last quarter. Morgan Stanley boosted its position in FreightCar America by 3,303.2% during the second quarter. Morgan Stanley now owns 305,399 shares of the transportation company’s stock valued at $1,811,000 after purchasing an additional 296,425 shares during the last quarter. EAM Investors LLC acquired a new position in FreightCar America during the first quarter valued at approximately $1,468,000. Finally, Geode Capital Management LLC boosted its position in FreightCar America by 30.0% during the third quarter. Geode Capital Management LLC now owns 132,860 shares of the transportation company’s stock valued at $601,000 after purchasing an additional 30,664 shares during the last quarter. 86.59% of the stock is owned by institutional investors.

About FreightCar America (Get Rating)

FreightCar America, Inc, through its subsidiaries, designs, manufactures, and sells railcars and railcar components for the transportation of bulk commodities and containerized freight products primarily in North America. It operates in two segments, Manufacturing and Parts. The company offers a range of freight cars, including open top hoppers; covered hopper cars; gondolas; triple hoppers and hybrid aluminum/stainless steel railcars; ore hopper and gondola railcars; ballast hopper cars; aggregate hopper cars; intermodal flats; and non-intermodal flat cars.

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