Millennium Management LLC Grows Position in FreightCar America, Inc. (NASDAQ:RAIL)

Millennium Management LLC boosted its position in FreightCar America, Inc. (NASDAQ:RAIL - Free Report) by 170.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 140,108 shares of the transportation company's stock after purchasing an additional 88,356 shares during the quarter. Millennium Management LLC owned about 0.74% of FreightCar America worth $1,255,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in RAIL. Ancora Advisors LLC acquired a new position in FreightCar America in the 4th quarter valued at $2,711,000. Marshall Wace LLP acquired a new position in FreightCar America in the 4th quarter valued at $2,399,000. Arrowstreet Capital Limited Partnership raised its stake in FreightCar America by 125.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 389,018 shares of the transportation company's stock valued at $3,486,000 after purchasing an additional 216,307 shares during the last quarter. Renaissance Technologies LLC raised its stake in FreightCar America by 128.5% in the 4th quarter. Renaissance Technologies LLC now owns 282,200 shares of the transportation company's stock valued at $2,529,000 after purchasing an additional 158,700 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in FreightCar America by 90.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 188,369 shares of the transportation company's stock valued at $1,688,000 after purchasing an additional 89,471 shares during the last quarter. 31.96% of the stock is owned by institutional investors and hedge funds.

FreightCar America Trading Up 5.7%

NASDAQ:RAIL traded up $0.45 during trading hours on Friday, hitting $8.33. The company had a trading volume of 181,518 shares, compared to its average volume of 278,065. The company has a 50-day moving average of $6.39 and a 200 day moving average of $8.42. The company has a market cap of $158.60 million, a P/E ratio of -1.96 and a beta of 1.90. FreightCar America, Inc. has a 1 year low of $3.02 and a 1 year high of $16.10.

FreightCar America (NASDAQ:RAIL - Get Free Report) last issued its earnings results on Wednesday, March 12th. The transportation company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.16. The company had revenue of $137.70 million during the quarter, compared to analysts' expectations of $152.02 million. FreightCar America had a negative return on equity of 27.10% and a negative net margin of 20.66%. On average, analysts forecast that FreightCar America, Inc. will post 0.09 earnings per share for the current year.

Analysts Set New Price Targets

RAIL has been the subject of several recent research reports. Northcoast Research began coverage on FreightCar America in a research note on Thursday, May 1st. They issued a "buy" rating and a $9.00 price objective for the company. Wall Street Zen cut FreightCar America from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th.

About FreightCar America

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.