FreightCar America, Inc. (NASDAQ:RAIL) Sees Significant Drop in Short Interest

FreightCar America, Inc. (NASDAQ:RAIL – Get Rating) saw a large decrease in short interest in April. As of April 30th, there was short interest totalling 504,300 shares, a decrease of 16.1% from the April 15th total of 600,900 shares. Based on an average daily trading volume, of 231,200 shares, the days-to-cover ratio is currently 2.2 days. Approximately 4.7% of the company’s stock are sold short.

Shares of FreightCar America stock opened at $4.88 on Wednesday. FreightCar America has a 1 year low of $3.06 and a 1 year high of $7.69. The company has a market capitalization of $80.69 million, a P/E ratio of -4.24 and a beta of 2.23. The company’s fifty day moving average is $5.19 and its two-hundred day moving average is $4.37.

FreightCar America (NASDAQ:RAIL – Get Rating) last issued its quarterly earnings data on Tuesday, May 10th. The transportation company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.14). The business had revenue of $93.24 million for the quarter. FreightCar America had a negative return on equity of 3,048.14% and a negative net margin of 10.05%. During the same quarter in the prior year, the firm earned ($0.48) earnings per share. As a group, sell-side analysts anticipate that FreightCar America will post -0.27 earnings per share for the current year.

In other news, major shareholder Benavides Alejandro Gil acquired 47,090 shares of FreightCar America stock in a transaction dated Wednesday, May 11th. The shares were acquired at an average cost of $3.70 per share, for a total transaction of $174,233.00. Following the acquisition, the insider now owns 127,000 shares of the company’s stock, valued at $469,900. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO James R. Meyer acquired 25,000 shares of FreightCar America stock in a transaction dated Wednesday, May 11th. The stock was purchased at an average price of $3.64 per share, for a total transaction of $91,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 433,101 shares in the company, valued at approximately $1,576,487.64. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 81,940 shares of company stock worth $299,511. 15.52% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in RAIL. Dynamic Technology Lab Private Ltd acquired a new position in FreightCar America during the third quarter worth about $48,000. GSA Capital Partners LLP acquired a new position in FreightCar America during the third quarter worth about $49,000. Wells Fargo & Company MN raised its position in FreightCar America by 293.7% during the second quarter. Wells Fargo & Company MN now owns 8,779 shares of the transportation company’s stock worth $52,000 after acquiring an additional 6,549 shares during the last quarter. Morgan Stanley raised its position in FreightCar America by 246.1% during the first quarter. Morgan Stanley now owns 8,974 shares of the transportation company’s stock worth $59,000 after acquiring an additional 6,381 shares during the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new position in FreightCar America during the first quarter worth about $73,000. Hedge funds and other institutional investors own 86.59% of the company’s stock.

A number of equities research analysts have recently weighed in on RAIL shares. Zacks Investment Research lowered shares of FreightCar America from a “buy” rating to a “hold” rating in a report on Tuesday. StockNews.com downgraded shares of FreightCar America from a “hold” rating to a “sell” rating in a research report on Friday, May 13th.

About FreightCar America (Get Rating)

FreightCar America, Inc, through its subsidiaries, designs, manufactures, and sells railcars and railcar components for the transportation of bulk commodities and containerized freight products primarily in North America. It operates in two segments, Manufacturing and Parts. The company offers a range of freight cars, including open top hoppers; covered hopper cars; gondolas; triple hoppers and hybrid aluminum/stainless steel railcars; ore hopper and gondola railcars; ballast hopper cars; aggregate hopper cars; intermodal flats; and non-intermodal flat cars.

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