FreightCar America, Inc. (NASDAQ:RAIL) Short Interest Down 41.9% in August

FreightCar America, Inc. (NASDAQ:RAIL) was the recipient of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 592,600 shares, a decrease of 41.9% from the August 15th total of 1,020,000 shares. Based on an average daily trading volume, of 1,150,000 shares, the short-interest ratio is presently 0.5 days. Approximately 5.1% of the shares of the company are short sold.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Morgan Stanley lifted its holdings in FreightCar America by 246.1% during the 1st quarter. Morgan Stanley now owns 8,974 shares of the transportation company’s stock worth $59,000 after purchasing an additional 6,381 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in FreightCar America by 293.7% during the 2nd quarter. Wells Fargo & Company MN now owns 8,779 shares of the transportation company’s stock worth $52,000 after purchasing an additional 6,549 shares in the last quarter. Algert Global LLC purchased a new stake in FreightCar America during the 1st quarter worth about $101,000. Susquehanna Fundamental Investments LLC bought a new position in FreightCar America in the 2nd quarter worth about $116,000. Finally, Pinz Capital Management LP bought a new position in FreightCar America in the 2nd quarter worth about $122,000. 19.89% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ RAIL traded down $0.26 during trading on Monday, reaching $4.68. 7,766 shares of the stock traded hands, compared to its average volume of 1,628,496. FreightCar America has a 52-week low of $1.35 and a 52-week high of $8.63. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.58 and a quick ratio of 0.88. The company has a 50-day moving average of $5.33 and a 200-day moving average of $5.49. The stock has a market capitalization of $73.59 million, a P/E ratio of -0.83 and a beta of 2.47.

FreightCar America (NASDAQ:RAIL) last issued its quarterly earnings data on Sunday, August 15th. The transportation company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.11). The company had revenue of $37.35 million for the quarter. FreightCar America had a negative return on equity of 208.31% and a negative net margin of 61.51%. Analysts expect that FreightCar America will post -1.05 earnings per share for the current fiscal year.

Separately, Zacks Investment Research raised FreightCar America from a “sell” rating to a “hold” rating in a research report on Tuesday, September 7th.

FreightCar America Company Profile

FreightCar America, Inc engages in the manufacture or railcars and railcar components. It operates through Manufacturing; and Corporate and Other segments. The Manufacturing segment include new railcar manufacturing, used railcar sales, railcar leasing and major railcar rebuilds. The Corporate and Other segment focuses in the in the sales of parts.

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