Short Interest in Freightcar America, Inc. (NASDAQ:RAIL) Expands By 235.8%

Freightcar America, Inc. (NASDAQ:RAIL) was the target of a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 753,303 shares, an increase of 235.8% from the June 15th total of 224,312 shares. Approximately 5.6% of the shares of the company are short sold. Based on an average daily trading volume, of 446,340 shares, the short-interest ratio is presently 1.7 days.

Institutional Investors Weigh In On Freightcar America

Institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its position in shares of Freightcar America by 208.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,935 shares of the transportation company’s stock worth $29,000 after purchasing an additional 1,984 shares during the last quarter. Royal Bank of Canada lifted its stake in Freightcar America by 2,843.5% in the fourth quarter. Royal Bank of Canada now owns 4,062 shares of the transportation company’s stock valued at $45,000 after buying an additional 3,924 shares during the period. Quarry LP acquired a new position in Freightcar America in the third quarter valued at about $53,000. Dynamic Technology Lab Private Ltd bought a new position in Freightcar America during the first quarter worth about $61,000. Finally, State of Wyoming bought a new position in Freightcar America during the second quarter worth about $63,000. Institutional investors and hedge funds own 31.96% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Freightcar America in a research note on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Freightcar America currently has an average rating of “Buy”.

Freightcar America Trading Up 1.1%

RAIL stock traded up $0.09 during trading on Tuesday, hitting $7.92. The company had a trading volume of 65,879 shares, compared to its average volume of 199,771. The company has a fifty day moving average price of $8.33 and a two-hundred day moving average price of $9.88. Freightcar America has a fifty-two week low of $7.27 and a fifty-two week high of $14.90. The company has a market cap of $151.68 million, a P/E ratio of 10.70 and a beta of 1.44.

Freightcar America (NASDAQ:RAIL) last announced its quarterly earnings results on Monday, May 4th. The transportation company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.06). Freightcar America had a net margin of 6.25% and a negative return on equity of 15.56%. The firm had revenue of $64.31 million for the quarter, compared to the consensus estimate of $74.60 million. On average, analysts expect that Freightcar America will post 0.4 earnings per share for the current year.

About Freightcar America

FreightCar America, Inc is a designer and manufacturer of specialized railroad freight cars, offering a diverse range of products that include tank cars, open and covered hoppers, gondolas, boxcars and centerbeam lumber cars. The company supports both new car construction and the rebuilding of existing fleets, providing custom engineering solutions to meet customer specifications and industry regulations. FreightCar America also supplies aftermarket parts, maintenance services and component remanufacturing for its own fleet and for third-party car owners.

Headquartered in Chicago, Illinois, FreightCar America traces its origins to early 20th-century railcar builders and began trading as an independent, publicly-listed company on the NASDAQ under the ticker RAIL following a spin-off in 2010.