683 Capital Management LLC Takes Position in FreightCar America, Inc. (NASDAQ:RAIL)

683 Capital Management LLC bought a new stake in FreightCar America, Inc. (NASDAQ:RAIL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 69,786 shares of the transportation company's stock, valued at approximately $625,000. 683 Capital Management LLC owned approximately 0.37% of FreightCar America as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in RAIL. State Street Corp increased its position in shares of FreightCar America by 21.6% in 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 during the last quarter. Barclays PLC purchased a new position in FreightCar America in the third quarter valued at $73,000. Geode Capital Management LLC raised its stake in FreightCar America by 12.4% in the third quarter. Geode Capital Management LLC now owns 180,618 shares of the transportation company's stock valued at $1,950,000 after buying an additional 19,890 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in FreightCar America by 98.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,599 shares of the transportation company's stock worth $50,000 after buying an additional 2,281 shares during the last quarter. Finally, Ritholtz Wealth Management acquired a new position in shares of FreightCar America during the 4th quarter worth about $104,000. Institutional investors and hedge funds own 31.96% of the company's stock.

FreightCar America Trading Down 10.7 %

Shares of FreightCar America stock traded down $0.73 on Wednesday, hitting $6.08. The stock had a trading volume of 305,440 shares, compared to its average volume of 263,539. The stock has a market cap of $115.87 million, a price-to-earnings ratio of -1.43 and a beta of 1.73. FreightCar America, Inc. has a 52-week low of $3.02 and a 52-week high of $16.10. The company's 50 day moving average price is $6.04 and its 200 day moving average price is $9.28.

FreightCar America (NASDAQ:RAIL - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The transportation company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.13). FreightCar America had a negative return on equity of 27.10% and a negative net margin of 20.66%. The business had revenue of $96.29 million for the quarter, compared to analysts' expectations of $121.06 million. Analysts predict that FreightCar America, Inc. will post 0.09 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on RAIL shares. Northcoast Research assumed coverage on FreightCar America in a report on Thursday, May 1st. They issued a "buy" rating and a $9.00 price target for the company. StockNews.com downgraded shares of FreightCar America from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 26th.

FreightCar America 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.