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

Freightcar America, Inc. (NASDAQ:RAIL) was the target of a large growth in short interest in June. As of June 30th, there was short interest totaling 753,303 shares, a growth of 235.8% from the June 15th total of 224,312 shares. Approximately 5.6% of the company’s shares are short sold. Based on an average daily volume of 446,340 shares, the short-interest ratio is presently 1.7 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Freightcar America in a research report on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy”.

Institutional Trading of Freightcar America

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its holdings in Freightcar America by 208.6% in the third quarter. BNP Paribas Financial Markets now owns 2,935 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 1,984 shares during the last quarter. Royal Bank of Canada increased its holdings in Freightcar America by 2,843.5% during the 4th quarter. Royal Bank of Canada now owns 4,062 shares of the transportation company’s stock worth $45,000 after purchasing an additional 3,924 shares during the last quarter. Quarry LP purchased a new stake in Freightcar America during the 3rd quarter worth approximately $53,000. State of Wyoming purchased a new stake in Freightcar America during the 2nd quarter worth approximately $63,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Freightcar America in the 1st quarter valued at approximately $61,000. 31.96% of the stock is owned by hedge funds and other institutional investors.

Freightcar America Trading Up 0.8%

RAIL opened at $7.90 on Wednesday. The company has a fifty day simple moving average of $8.33 and a 200 day simple moving average of $9.86. The firm has a market cap of $151.18 million, a price-to-earnings ratio of 10.68 and a beta of 1.44. Freightcar America has a twelve month low of $7.27 and a twelve month high of $14.90.

Freightcar America (NASDAQ:RAIL) last issued its quarterly earnings data on Monday, May 4th. The transportation company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06). The firm had revenue of $64.31 million during the quarter, compared to analyst estimates of $74.60 million. Freightcar America had a negative return on equity of 15.56% and a net margin of 6.25%. On average, analysts forecast that Freightcar America will post 0.4 earnings per share for the current fiscal year.

Freightcar America Company Profile

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.