Freightcar America (NASDAQ:RAIL) Stock Price Crosses Above 200 Day Moving Average - Should You Sell?

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.

Freightcar America, Inc. (NASDAQ:RAIL - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 changing hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Freightcar America from a "hold" rating to a "buy" rating in a report on Sunday, September 7th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Freightcar America presently has an average rating of "Buy" and an average price target of $9.00.

Freightcar America Stock Performance

The stock has a market cap of $165.47 million, a P/E ratio of -12.36 and a beta of 1.95. The firm's 50 day moving average is $9.60 and its 200 day moving average is $7.88.

Insider Activity at Freightcar America

In other Freightcar America news, insider Celia Perez sold 7,982 shares of the business'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 sale, the insider owned 50,326 shares of the company's stock, valued at approximately $432,300.34. The trade was a 13.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 28.70% of the stock is currently owned by company insiders.

Institutional Trading of Freightcar America

Several large investors have recently bought and sold shares of the stock. Squarepoint Ops LLC grew its position in Freightcar America by 24.6% during the 2nd quarter. Squarepoint Ops LLC now owns 70,033 shares of the transportation company's stock worth $604,000 after purchasing an additional 13,825 shares during the last quarter. Marex Group plc purchased a new stake in Freightcar America during the 2nd quarter worth approximately $172,000. State of Wyoming purchased a new stake in Freightcar America during the 2nd quarter worth approximately $63,000. Man Group plc grew its position in Freightcar America by 38.5% during the 2nd quarter. Man Group plc now owns 88,158 shares of the transportation company's stock worth $760,000 after purchasing an additional 24,515 shares during the last quarter. Finally, Raymond James Financial Inc. grew its position in Freightcar America by 24.7% during the 2nd quarter. Raymond James Financial Inc. now owns 20,545 shares of the transportation company's stock worth $177,000 after purchasing an additional 4,067 shares during the last quarter. 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.

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