Short Interest in FreightCar America, Inc. (NASDAQ:RAIL) Declines By 18.4%

FreightCar America, Inc. (NASDAQ:RAIL) saw a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 204,200 shares, a decrease of 18.4% from the March 15th total of 250,300 shares. Approximately 1.5% of the company’s stock are short sold. Based on an average daily trading volume, of 41,800 shares, the short-interest ratio is presently 4.9 days.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on FreightCar America in a research report on Thursday, March 21st. They issued a “hold” rating for the company.

Institutional Trading of FreightCar America

Several institutional investors and hedge funds have recently bought and sold shares of RAIL. Allianz Asset Management GmbH raised its stake in FreightCar America by 69.9% during the first quarter. Allianz Asset Management GmbH now owns 693,077 shares of the transportation company’s stock valued at $4,096,000 after buying an additional 285,119 shares in the last quarter. Ancora Advisors LLC acquired a new stake in FreightCar America during the first quarter valued at approximately $386,000. Jane Street Group LLC raised its stake in FreightCar America by 95.8% during the first quarter. Jane Street Group LLC now owns 41,093 shares of the transportation company’s stock valued at $243,000 after buying an additional 20,107 shares in the last quarter. Walleye Capital LLC acquired a new stake in FreightCar America during the first quarter valued at approximately $820,000. Finally, LPL Financial LLC acquired a new stake in FreightCar America during the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 31.96% of the company’s stock.

FreightCar America Trading Down 4.9 %

NASDAQ:RAIL opened at $3.66 on Monday. FreightCar America has a one year low of $2.25 and a one year high of $4.09. The business’s 50-day simple moving average is $3.34 and its 200 day simple moving average is $2.83.

FreightCar America (NASDAQ:RAIL) last released its quarterly earnings results on Monday, March 18th. The transportation company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.08). The company had revenue of $126.60 million during the quarter. Sell-side analysts forecast that FreightCar America will post 0.2 earnings per share for the current year.

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.