FreightCar America (NASDAQ:RAIL) Share Price Passes Above Two Hundred Day Moving Average of $5.68

FreightCar America, Inc. (NASDAQ:RAIL) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.68 and traded as high as $4.16. FreightCar America shares last traded at $4.13, with a volume of 237 shares.

RAIL has been the subject of a number of research reports. Zacks Investment Research raised FreightCar America from a “sell” rating to a “hold” rating in a research note on Saturday, August 3rd. ValuEngine raised FreightCar America from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Cowen reissued a “hold” rating and set a $6.00 target price on shares of FreightCar America in a research note on Monday, August 5th. Six analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and an average target price of $7.00.

The business has a 50 day moving average of $4.58 and a 200-day moving average of $5.68. The company has a current ratio of 2.21, a quick ratio of 1.32 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $54.98 million, a P/E ratio of -2.39 and a beta of 1.42.

FreightCar America (NASDAQ:RAIL) last posted its earnings results on Wednesday, July 31st. The transportation company reported ($0.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.14. FreightCar America had a negative return on equity of 17.45% and a negative net margin of 19.85%. The business had revenue of $73.66 million during the quarter. On average, analysts anticipate that FreightCar America, Inc. will post -2.32 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC bought a new position in shares of FreightCar America during the 2nd quarter worth approximately $92,000. Citadel Advisors LLC bought a new position in shares of FreightCar America during the 2nd quarter worth approximately $80,000. Morgan Stanley grew its stake in shares of FreightCar America by 791.4% during the 2nd quarter. Morgan Stanley now owns 29,070 shares of the transportation company’s stock worth $171,000 after acquiring an additional 25,809 shares in the last quarter. Paloma Partners Management Co bought a new position in shares of FreightCar America during the 2nd quarter worth approximately $311,000. Finally, Renaissance Technologies LLC grew its stake in shares of FreightCar America by 604.0% during the 2nd quarter. Renaissance Technologies LLC now owns 88,000 shares of the transportation company’s stock worth $517,000 after acquiring an additional 75,500 shares in the last quarter. 71.95% of the stock is owned by institutional investors and hedge funds.

FreightCar America Company Profile (NASDAQ:RAIL)

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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