Freightcar America (NASDAQ:RAIL) Share Price Crosses Above 200 Day Moving Average - What's Next?

Freightcar America, Inc. (NASDAQ:RAIL - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.43 and traded as high as $11.85. Freightcar America shares last traded at $11.54, with a volume of 170,094 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Wall Street Zen downgraded shares of Freightcar America from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Northcoast Research started coverage on shares of Freightcar America in a report on Thursday, May 1st. They set a "buy" rating and a $9.00 price target for the company.

Freightcar America Stock Performance

The stock's fifty day moving average price is $8.95 and its two-hundred day moving average price is $8.45. The company has a market cap of $215.53 million, a P/E ratio of -12.17 and a beta of 1.89.

Insider Transactions at Freightcar America

In related news, insider Celia Perez sold 7,982 shares of the company's stock in a transaction that occurred on 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 transaction, the insider directly owned 50,326 shares in the company, valued at $432,300.34. This represents a 13.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 28.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Freightcar America

A number of institutional investors have 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 approximately $2,711,000. Marshall Wace LLP acquired a new position in Freightcar America in the 4th quarter valued at approximately $2,399,000. Arrowstreet Capital Limited Partnership increased its position 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 acquiring an additional 216,307 shares during the period. North Star Investment Management Corp. acquired a new position in Freightcar America in the 2nd quarter valued at approximately $1,498,000. Finally, Renaissance Technologies LLC increased its position 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 acquiring an additional 158,700 shares during the period. 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.