Freightcar America (NASDAQ:RAIL) Stock Passes Above 200-Day Moving Average - What's Next?

Key Points

• Freightcar America's stock price surpassed its 200-day moving average of $7.88, reaching a high of $8.67 during trading.
• Wall Street Zen upgraded the shares from a "hold" to a "buy" rating, and the stock has an average price target of $9.00.
• Insider activity revealed that Celia Perez sold 7,982 shares, decreasing her stake by 13.69%, with insiders owning 28.70% of the company’s stock.

Shares of Freightcar America, Inc. (NASDAQ:RAIL - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.88 and traded as high as $8.67. Freightcar America shares last traded at $8.65, with a volume of 118,254 shares trading hands.

Analysts Set New Price Targets

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

Freightcar America Stock Performance

The stock has a market cap of $174.08 million, a PE ratio of -13.00 and a beta of 1.95. The business has a 50 day moving average price of $9.41 and a two-hundred day moving average price of $7.91.

Insider Activity

In other news, insider Celia Perez sold 7,982 shares of the firm's 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 completion of the sale, the insider directly owned 50,326 shares of the company's stock, valued at $432,300.34. This trade represents a 13.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 28.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Freightcar America

A number of large investors have recently modified their holdings of the business. Mechanics Financial Corp bought a new stake in Freightcar America in the 1st quarter worth approximately $55,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Freightcar America during the first quarter valued at approximately $61,000. State of Wyoming purchased a new position in shares of Freightcar America during the second quarter valued at approximately $63,000. Walleye Capital LLC purchased a new position in shares of Freightcar America during the first quarter valued at approximately $74,000. Finally, Pacific Wealth Strategies Group Inc. purchased a new position in shares of Freightcar America during the second quarter valued at approximately $87,000. 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.