Freightcar America, Inc. (NASDAQ:RAIL) Short Interest Up 60.4% in December

Freightcar America, Inc. (NASDAQ:RAIL) saw a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 387,748 shares, a growth of 60.4% from the December 15th total of 241,788 shares. Currently, 2.9% of the shares of the company are sold short. Based on an average trading volume of 243,270 shares, the days-to-cover ratio is presently 1.6 days. Based on an average trading volume of 243,270 shares, the days-to-cover ratio is presently 1.6 days. Currently, 2.9% of the shares of the company are sold short.

Freightcar America Stock Performance

RAIL stock opened at $11.14 on Friday. Freightcar America has a fifty-two week low of $4.31 and a fifty-two week high of $13.64. The company has a market capitalization of $212.55 million, a price-to-earnings ratio of 4.22 and a beta of 1.67. The business’s 50 day moving average price is $9.54 and its two-hundred day moving average price is $9.49.

Freightcar America (NASDAQ:RAIL) last released its quarterly earnings results on Monday, November 10th. The transportation company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.08. The company had revenue of $160.51 million for the quarter, compared to analyst estimates of $157.25 million. Freightcar America had a negative return on equity of 17.35% and a net margin of 17.40%. Sell-side analysts forecast that Freightcar America will post 0.09 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RAIL. Cubist Systematic Strategies LLC bought a new stake in Freightcar America during the first quarter worth about $147,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Freightcar America during the first quarter valued at approximately $61,000. Goldman Sachs Group Inc. boosted its position in shares of Freightcar America by 58.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 106,656 shares of the transportation company’s stock worth $590,000 after purchasing an additional 39,506 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Freightcar America by 13.1% in the 1st quarter. Jane Street Group LLC now owns 108,724 shares of the transportation company’s stock worth $601,000 after purchasing an additional 12,610 shares in the last quarter. Finally, North Star Investment Management Corp. purchased a new stake in shares of Freightcar America in the 2nd quarter worth approximately $1,498,000. 31.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RAIL has been the topic of several recent research reports. Wall Street Zen upgraded Freightcar America from a “hold” rating to a “buy” rating in a research report on Sunday, December 28th. Weiss Ratings lowered Freightcar America from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. Finally, Zacks Research raised Freightcar America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.00.

About Freightcar America

FreightCar America, Inc is a designer and manufacturer of specialized railroad freight cars, offering a diverse range of products that include tank cars, open and covered hoppers, gondolas, boxcars and centerbeam lumber cars. The company supports both new car construction and the rebuilding of existing fleets, providing custom engineering solutions to meet customer specifications and industry regulations. FreightCar America also supplies aftermarket parts, maintenance services and component remanufacturing for its own fleet and for third-party car owners.

Headquartered in Chicago, Illinois, FreightCar America traces its origins to early 20th-century railcar builders and began trading as an independent, publicly-listed company on the NASDAQ under the ticker RAIL following a spin-off in 2010.