FreightCar America (NASDAQ:RAIL) Stock Passes Above 200 Day Moving Average – What’s Next?

Shares of FreightCar America, Inc. (NASDAQ:RAIL) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.97 and traded as high as $9.62. FreightCar America shares last traded at $9.55, with a volume of 166,849 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com raised FreightCar America from a “hold” rating to a “buy” rating in a research note on Wednesday, November 13th.

FreightCar America Stock Down 3.4 %

The stock’s 50-day simple moving average is $11.03 and its 200 day simple moving average is $8.02. The firm has a market cap of $174.39 million, a P/E ratio of -2.18 and a beta of 1.94.

Insiders Place Their Bets

In other news, Director James R. Meyer bought 23,400 shares of FreightCar America stock in a transaction dated Thursday, November 14th. The stock was bought at an average cost of $10.74 per share, for a total transaction of $251,316.00. Following the purchase, the director now directly owns 838,278 shares in the company, valued at approximately $9,003,105.72. This represents a 2.87 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 28.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of FreightCar America by 98.4% during 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 in the last quarter. Quantbot Technologies LP acquired a new stake in FreightCar America in the 3rd quarter valued at $49,000. Dimensional Fund Advisors LP increased its stake in FreightCar America by 24.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 29,932 shares of the transportation company’s stock valued at $104,000 after purchasing an additional 5,880 shares in the last quarter. Barclays PLC acquired a new position in FreightCar America during the third quarter worth $73,000. Finally, State Street Corp lifted its stake in shares of FreightCar America by 21.6% in the third quarter. State Street Corp now owns 53,958 shares of the transportation company’s stock valued at $582,000 after buying an additional 9,600 shares in the last quarter. 31.96% of the stock is owned by institutional investors and hedge funds.

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.