Short Interest in FreightCar America, Inc. (NASDAQ:RAIL) Expands By 18.6%

FreightCar America, Inc. (NASDAQ:RAIL) was the target of a significant growth in short interest in February. As of February 28th, there was short interest totalling 415,100 shares, a growth of 18.6% from the February 13th total of 350,000 shares. Approximately 2.9% of the company’s stock are short sold. Based on an average daily trading volume, of 202,600 shares, the days-to-cover ratio is currently 2.0 days.

Hedge Funds Weigh In On FreightCar America

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RAIL. Quantbot Technologies LP bought a new position in FreightCar America during the third quarter worth $49,000. JPMorgan Chase & Co. boosted 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 acquiring an additional 2,281 shares during the period. Globeflex Capital L P bought a new stake in shares of FreightCar America in the fourth quarter valued at about $69,000. Barclays PLC bought a new stake in shares of FreightCar America in the third quarter valued at about $73,000. Finally, Ritholtz Wealth Management bought a new stake in shares of FreightCar America in the fourth quarter valued at about $104,000. 31.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of FreightCar America from a “buy” rating to a “strong-buy” rating in a research note on Tuesday.

FreightCar America Trading Down 0.6 %

NASDAQ:RAIL opened at $6.42 on Thursday. FreightCar America has a 1-year low of $3.02 and a 1-year high of $16.10. The firm has a fifty day simple moving average of $10.07 and a 200 day simple moving average of $10.49. The stock has a market capitalization of $122.37 million, a PE ratio of -1.51 and a beta of 2.08.

FreightCar America (NASDAQ:RAIL) last released its quarterly earnings data on Wednesday, March 12th. The transportation company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates 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. On average, equities analysts predict that FreightCar America will post 0.09 earnings per share for the current fiscal year.

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.