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

Freightcar America, Inc. (NASDAQ:RAIL - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.32 and traded as high as $8.76. Freightcar America shares last traded at $8.49, with a volume of 146,346 shares traded.

Analyst Upgrades and Downgrades

RAIL has been the subject of a number of research analyst 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 for the company. Wall Street Zen cut Freightcar America from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th.

Freightcar America Stock Performance

The stock has a market cap of $165.19 million, a P/E ratio of -9.33 and a beta of 1.90. The firm's fifty day simple moving average is $7.19 and its 200-day simple moving average is $8.32.

Institutional Investors Weigh In On Freightcar America

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new position in shares of Freightcar America during the 4th quarter worth approximately $282,000. Globeflex Capital L P purchased a new position in Freightcar America during the 4th quarter valued at about $69,000. Quantbot Technologies LP increased its holdings in Freightcar America by 80.8% during the 4th quarter. Quantbot Technologies LP now owns 8,128 shares of the transportation company's stock worth $73,000 after acquiring an additional 3,632 shares during the period. Sei Investments Co. boosted its stake in Freightcar America by 66.4% during the fourth quarter. Sei Investments Co. now owns 33,416 shares of the transportation company's stock valued at $299,000 after buying an additional 13,339 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Freightcar America by 125.2% during 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 in the last quarter. Institutional investors and hedge funds own 31.96% of the company's stock.

About Freightcar America

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.