FreightCar America, Inc. (NASDAQ:RAIL) Sees Large Increase in Short Interest

FreightCar America, Inc. (NASDAQ:RAIL) saw a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 587,800 shares, an increase of 41.6% from the February 28th total of 415,100 shares. Approximately 4.1% of the company’s stock are short sold. Based on an average daily trading volume, of 229,500 shares, the days-to-cover ratio is presently 2.6 days.

FreightCar America Price Performance

NASDAQ:RAIL traded down $0.11 during midday trading on Monday, hitting $5.53. The company’s stock had a trading volume of 190,674 shares, compared to its average volume of 245,016. FreightCar America has a fifty-two week low of $3.02 and a fifty-two week high of $16.10. The firm’s 50 day moving average is $9.42 and its 200-day moving average is $10.41. The firm has a market cap of $105.40 million, a P/E ratio of -1.30 and a beta of 2.08.

FreightCar America (NASDAQ:RAIL) last issued its earnings results on Wednesday, March 12th. The transportation company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.16. FreightCar America had a negative net margin of 20.66% and a negative return on equity of 27.10%. The firm had revenue of $137.70 million during the quarter, compared to analysts’ expectations of $152.02 million. As a group, analysts forecast that FreightCar America will post 0.09 EPS for the current year.

Analyst Ratings Changes

Separately, StockNews.com downgraded FreightCar America from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 26th.

Institutional Trading of FreightCar America

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quantbot Technologies LP purchased a new position in shares of FreightCar America during the 3rd quarter valued at approximately $49,000. JPMorgan Chase & Co. raised its position in shares of FreightCar America by 98.4% in the third quarter. JPMorgan Chase & Co. now owns 4,599 shares of the transportation company’s stock worth $50,000 after acquiring an additional 2,281 shares during the period. Globeflex Capital L P purchased a new stake in shares of FreightCar America during the 4th quarter worth about $69,000. Barclays PLC acquired a new stake in shares of FreightCar America during the 3rd quarter valued at about $73,000. Finally, Ritholtz Wealth Management purchased a new position in shares of FreightCar America in the 4th quarter valued at about $104,000. 31.96% of the stock is owned by institutional investors and hedge funds.

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.