Short Interest in FreightCar America, Inc. (NASDAQ:RAIL) Drops By 9.2%

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FreightCar America, Inc. (NASDAQ:RAIL) saw a large drop in short interest during the month of June. As of June 30th, there was short interest totalling 925,000 shares, a drop of 9.2% from the May 30th total of 1,018,600 shares. Based on an average trading volume of 129,100 shares, the days-to-cover ratio is currently 7.2 days. Approximately 7.8% of the shares of the company are short sold.

In other news, CFO Christopher J. Eppel acquired 8,468 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was bought at an average price of $6.02 per share, with a total value of $50,977.36. Following the acquisition, the chief financial officer now owns 50,500 shares in the company, valued at approximately $304,010. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Malcolm F. Moore acquired 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was purchased at an average cost of $6.35 per share, with a total value of $25,400.00. Following the acquisition, the director now owns 25,913 shares in the company, valued at approximately $164,547.55. The disclosure for this purchase can be found here. In the last three months, insiders purchased 30,468 shares of company stock valued at $191,437. 6.65% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of RAIL. Rhumbline Advisers lifted its position in FreightCar America by 39.8% in the 4th quarter. Rhumbline Advisers now owns 18,050 shares of the transportation company’s stock worth $121,000 after buying an additional 5,141 shares during the last quarter. Millennium Management LLC bought a new stake in FreightCar America in the 4th quarter worth approximately $247,000. Two Sigma Investments LP lifted its position in FreightCar America by 103.3% in the 4th quarter. Two Sigma Investments LP now owns 53,594 shares of the transportation company’s stock worth $359,000 after buying an additional 27,229 shares during the last quarter. Brandywine Global Investment Management LLC lifted its position in FreightCar America by 56.9% in the 4th quarter. Brandywine Global Investment Management LLC now owns 87,800 shares of the transportation company’s stock worth $588,000 after buying an additional 31,840 shares during the last quarter. Finally, Parthenon LLC bought a new stake in FreightCar America in the 1st quarter worth approximately $725,000. 83.48% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently weighed in on RAIL. Zacks Investment Research raised HB Fuller from a “sell” rating to a “hold” rating in a report on Wednesday, July 3rd. Buckingham Research set a $7.00 target price on FreightCar America and gave the company a “hold” rating in a report on Friday, March 22nd. ValuEngine lowered Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, Stifel Nicolaus set a $8.00 target price on FreightCar America and gave the company a “hold” rating in a report on Tuesday, April 2nd. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $11.33.

RAIL stock traded down $0.01 during mid-day trading on Friday, reaching $5.78. 75,361 shares of the company traded hands, compared to its average volume of 201,716. The company has a quick ratio of 1.24, a current ratio of 2.01 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $72.93 million, a P/E ratio of -3.25 and a beta of 1.46. FreightCar America has a 52-week low of $5.51 and a 52-week high of $20.14. The company has a fifty day moving average price of $6.03.

FreightCar America (NASDAQ:RAIL) last posted its earnings results on Wednesday, May 1st. The transportation company reported ($1.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.48) by ($0.64). The company had revenue of $70.71 million for the quarter, compared to analysts’ expectations of $65.40 million. FreightCar America had a negative net margin of 15.85% and a negative return on equity of 14.67%. Analysts expect that FreightCar America will post -2.4 earnings per share for the current fiscal year.

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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