Freightcar America (NASDAQ:RAIL) Share Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Freightcar America shares recently surpassed their 200-day moving average, trading at $8.82 with a peak at $9.08.
• Wall Street analysts have a consensus rating of "Buy" for the stock, with a price target of $9.00.
• Insider activity includes a sale of 7,982 shares by Celia Perez, reducing their holdings by 13.69%.

Freightcar America, Inc. (NASDAQ:RAIL - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.04 and traded as high as $9.08. Freightcar America shares last traded at $8.82, with a volume of 123,175 shares traded.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of Freightcar America from a "buy" rating to a "hold" rating in a research note on Saturday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $9.00.

Freightcar America Stock Down 3.2%

The stock has a market capitalization of $163.37 million, a price-to-earnings ratio of -12.20 and a beta of 1.95. The company's 50-day moving average is $9.70 and its 200-day moving average is $7.93.

Insider Transactions at Freightcar America

In related news, insider Celia Perez sold 7,982 shares of the firm's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $8.59, for a total transaction of $68,565.38. Following the completion of the sale, the insider directly owned 50,326 shares in the company, valued at approximately $432,300.34. This trade represents a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 28.70% of the company's stock.

Institutional Investors Weigh In On Freightcar America

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Squarepoint Ops LLC increased its position in shares of Freightcar America by 24.6% during the second quarter. Squarepoint Ops LLC now owns 70,033 shares of the transportation company's stock valued at $604,000 after acquiring an additional 13,825 shares during the last quarter. Marex Group plc acquired a new stake in shares of Freightcar America during the second quarter valued at about $172,000. State of Wyoming acquired a new stake in shares of Freightcar America during the second quarter valued at about $63,000. Man Group plc increased its position in shares of Freightcar America by 38.5% during the second quarter. Man Group plc now owns 88,158 shares of the transportation company's stock valued at $760,000 after acquiring an additional 24,515 shares during the last quarter. Finally, Raymond James Financial Inc. increased its position in shares of Freightcar America by 24.7% during the second quarter. Raymond James Financial Inc. now owns 20,545 shares of the transportation company's stock valued at $177,000 after acquiring an additional 4,067 shares during the last quarter. 31.96% of the stock is currently 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.