FreightCar America, Inc. (NASDAQ:RAIL) Short Interest Update

FreightCar America, Inc. (NASDAQ:RAIL) saw a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 321,000 shares, a drop of 19.8% from the January 15th total of 400,100 shares. Based on an average daily volume of 318,500 shares, the short-interest ratio is presently 1.0 days. Currently, 2.3% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RAIL. Allspring Global Investments Holdings LLC purchased a new position in FreightCar America in the 3rd quarter valued at approximately $1,067,000. Quantbot Technologies LP purchased a new position in shares of FreightCar America during the 3rd quarter valued at $49,000. Walleye Capital LLC purchased a new position in shares of FreightCar America during the 3rd quarter valued at $813,000. Centiva Capital LP purchased a new position in shares of FreightCar America during the 3rd quarter valued at $453,000. Finally, State Street Corp grew its position in shares of FreightCar America by 21.6% during the 3rd quarter. State Street Corp now owns 53,958 shares of the transportation company’s stock valued at $582,000 after purchasing an additional 9,600 shares in the last quarter. 31.96% of the stock is currently owned by hedge funds and other institutional investors.

FreightCar America Trading Down 6.3 %

FreightCar America stock opened at $11.17 on Monday. FreightCar America has a 1-year low of $2.86 and a 1-year high of $16.10. The firm has a market capitalization of $211.00 million, a price-to-earnings ratio of -2.63 and a beta of 1.96. The firm has a 50 day simple moving average of $10.86 and a 200 day simple moving average of $10.08.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of FreightCar America from a “hold” rating to a “buy” rating in a research note on Wednesday, February 12th.

FreightCar America Company Profile

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.