FreightCar America (NASDAQ:RAIL) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

FreightCar America, Inc. (NASDAQ:RAIL)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.97 and traded as high as $9.62. FreightCar America shares last traded at $9.55, with a volume of 166,849 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of FreightCar America from a “hold” rating to a “buy” rating in a research report on Wednesday, November 13th.

FreightCar America Price Performance

The company has a market capitalization of $180.44 million, a price-to-earnings ratio of -2.25 and a beta of 1.94. The stock’s fifty day simple moving average is $11.15 and its two-hundred day simple moving average is $7.97.

Insider Activity at FreightCar America

In other FreightCar America news, Director James R. Meyer purchased 23,400 shares of FreightCar America stock in a transaction on Thursday, November 14th. The stock was bought at an average price of $10.74 per share, for a total transaction of $251,316.00. Following the transaction, the director now owns 838,278 shares of the company’s stock, valued at $9,003,105.72. The trade was a 2.87 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 28.00% of the company’s stock.

Institutional Investors Weigh In On FreightCar America

Several institutional investors have recently bought and sold shares of RAIL. Dimensional Fund Advisors LP raised its position in shares of FreightCar America by 24.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 29,932 shares of the transportation company’s stock worth $104,000 after buying an additional 5,880 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of FreightCar America by 43.4% in the second quarter. Renaissance Technologies LLC now owns 116,887 shares of the transportation company’s stock valued at $408,000 after buying an additional 35,387 shares during the period. Allspring Global Investments Holdings LLC bought a new position in FreightCar America during the third quarter valued at about $1,067,000. Quantbot Technologies LP acquired a new position in FreightCar America during the third quarter worth about $49,000. Finally, Walleye Capital LLC bought a new stake in FreightCar America in the third quarter worth about $813,000. 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.