Freightcar America (NASDAQ:RAIL) Share Price Passes Above 200-Day Moving Average - Here's Why

Freightcar America, Inc. (NASDAQ:RAIL - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.31 and traded as high as $11.74. Freightcar America shares last traded at $11.66, with a volume of 875,590 shares.

Wall Street Analysts Forecast Growth

RAIL has been the topic of several recent research reports. Northcoast Research initiated coverage on Freightcar America in a report on Thursday, May 1st. They set a "buy" rating and a $9.00 price objective on the stock. Wall Street Zen cut Freightcar America from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th.

Freightcar America Stock Performance

The company has a fifty day moving average of $8.22 and a two-hundred day moving average of $8.34. The company has a market cap of $226.96 million, a PE ratio of -12.82 and a beta of 1.89.

Insiders Place Their Bets

In related news, insider Celia Perez sold 7,982 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $8.59, for a total transaction of $68,565.38. Following the sale, the insider owned 50,326 shares in the company, valued at approximately $432,300.34. This represents a 13.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 28.70% of the company's stock.

Institutional Trading of Freightcar America

Several hedge funds and other institutional investors have recently bought and sold shares of RAIL. Raymond James Financial Inc. purchased a new stake in Freightcar America in the fourth quarter worth $282,000. Globeflex Capital L P purchased a new stake in Freightcar America in the fourth quarter worth $69,000. Quantbot Technologies LP increased its stake in Freightcar America by 80.8% in the fourth quarter. Quantbot Technologies LP now owns 8,128 shares of the transportation company's stock worth $73,000 after purchasing an additional 3,632 shares during the period. Sei Investments Co. increased its stake in Freightcar America by 66.4% in the fourth quarter. Sei Investments Co. now owns 33,416 shares of the transportation company's stock worth $299,000 after purchasing an additional 13,339 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in Freightcar America by 125.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 389,018 shares of the transportation company's stock worth $3,486,000 after purchasing an additional 216,307 shares during the period. Hedge funds and other institutional investors own 31.96% of the company's stock.

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.