FreightCar America, Inc. (NASDAQ:RAIL) Short Interest Update

FreightCar America, Inc. (NASDAQ:RAIL) saw a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 470,300 shares, a decrease of 12.9% from the June 30th total of 539,700 shares. Based on an average daily volume of 127,700 shares, the days-to-cover ratio is currently 3.7 days. Approximately 4.0% of the company’s stock are short sold.

FreightCar America stock traded down $0.18 during mid-day trading on Thursday, reaching $3.98. 94,100 shares of the stock traded hands, compared to its average volume of 113,513. The stock has a market capitalization of $51.19 million, a PE ratio of -2.24 and a beta of 1.43. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.21 and a quick ratio of 1.32. FreightCar America has a 12-month low of $3.97 and a 12-month high of $18.58. The business’s 50-day moving average is $5.41 and its 200-day moving average is $6.49.

In other news, CFO Christopher J. Eppel bought 8,468 shares of the stock in a transaction dated Wednesday, May 29th. The shares were bought at an average cost of $6.02 per share, with a total value of $50,977.36. Following the completion of the transaction, the chief financial officer now directly owns 50,500 shares of the company’s stock, valued at $304,010. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 6.65% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its stake in shares of FreightCar America by 14.1% in the fourth quarter. BlackRock Inc. now owns 969,830 shares of the transportation company’s stock worth $6,489,000 after acquiring an additional 119,694 shares during the period. Parthenon LLC purchased a new position in FreightCar America during the 1st quarter worth $725,000. Renaissance Technologies LLC increased its holdings in FreightCar America by 604.0% during the 2nd quarter. Renaissance Technologies LLC now owns 88,000 shares of the transportation company’s stock worth $517,000 after purchasing an additional 75,500 shares during the period. Minerva Advisors LLC purchased a new position in FreightCar America during the 2nd quarter worth $427,000. Finally, Paloma Partners Management Co bought a new stake in FreightCar America during the 2nd quarter valued at $311,000. Institutional investors and hedge funds own 77.69% of the company’s stock.

A number of equities analysts have recently weighed in on the company. Zacks Investment Research raised FreightCar America from a “sell” rating to a “hold” rating in a research report on Saturday, August 3rd. ValuEngine raised FreightCar America from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Cowen reissued a “hold” rating and issued a $6.00 price target on shares of FreightCar America in a research report on Monday, August 5th. Six equities research analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and an average price target of $7.00.

About FreightCar America

FreightCar America, Inc, through its subsidiaries, designs, manufactures, and sells railcars for the transportation of bulk commodities and containerized freight products primarily in North America. It operates through two segments, Manufacturing and Parts. The company offers a range of freight cars, including open top hoppers, covered hoppers, and gondolas; intermodal flats, such as well cars; and non-intermodal flat cars comprising slab, hot slab, ribbon rail, and bulkhead flats.

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