Freightcar America (NASDAQ:RAIL) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Freightcar America, Inc. (NASDAQ:RAIL) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.77 and traded as high as $13.71. Freightcar America shares last traded at $13.36, with a volume of 116,989 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wall Street Zen raised shares of Freightcar America from a “hold” rating to a “buy” rating in a research note on Sunday, December 28th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Freightcar America in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $9.00.

Freightcar America Price Performance

The business’s 50 day simple moving average is $11.41 and its 200-day simple moving average is $9.77. The stock has a market capitalization of $254.91 million, a P/E ratio of 5.06 and a beta of 1.77.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Hillsdale Investment Management Inc. raised its holdings in Freightcar America by 708.2% in the fourth quarter. Hillsdale Investment Management Inc. now owns 290,954 shares of the transportation company’s stock worth $3,221,000 after purchasing an additional 254,954 shares during the period. Marshall Wace LLP raised its stake in Freightcar America by 92.4% during the 4th quarter. Marshall Wace LLP now owns 446,420 shares of the transportation company’s stock worth $4,942,000 after buying an additional 214,397 shares during the period. Essex Investment Management Co. LLC bought a new position in Freightcar America during the third quarter worth about $2,007,000. Walleye Capital LLC grew its stake in Freightcar America by 907.4% in the fourth quarter. Walleye Capital LLC now owns 170,830 shares of the transportation company’s stock valued at $1,891,000 after acquiring an additional 153,872 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of Freightcar America by 161.9% in the fourth quarter. Millennium Management LLC now owns 153,172 shares of the transportation company’s stock worth $1,696,000 after acquiring an additional 94,694 shares in the last quarter. Institutional investors and hedge funds own 31.96% of the company’s stock.

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.