Short Interest in FreightCar America, Inc. (NASDAQ:RAIL) Grows By 41.6%

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

FreightCar America Trading Down 5.4 %

NASDAQ:RAIL traded down $0.32 during trading hours on Friday, hitting $5.64. 209,464 shares of the stock were exchanged, compared to its average volume of 238,744. The firm’s fifty day moving average price is $9.42 and its 200 day moving average price is $10.41. FreightCar America has a 52-week low of $3.02 and a 52-week high of $16.10. The company has a market cap of $107.50 million, a P/E ratio of -1.33 and a beta of 2.08.

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

Hedge Funds Weigh In On FreightCar America

Hedge funds and other institutional investors have recently modified their holdings of the business. Quantbot Technologies LP acquired a new stake in FreightCar America in the 3rd quarter valued at about $49,000. JPMorgan Chase & Co. grew 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 valued at $50,000 after purchasing an additional 2,281 shares in the last quarter. Globeflex Capital L P acquired a new stake in shares of FreightCar America in the fourth quarter valued at approximately $69,000. Barclays PLC acquired a new position in FreightCar America during the third quarter worth $73,000. Finally, Ritholtz Wealth Management acquired a new position in FreightCar America during the fourth quarter worth $104,000. 31.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of FreightCar America from a “strong-buy” rating to a “buy” rating in a research report on Wednesday.

About FreightCar America

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.