Allspring Global Investments Holdings LLC Has $1.69 Million Holdings in FreightCar America, Inc. (NASDAQ:RAIL)

Allspring Global Investments Holdings LLC raised its position in shares of FreightCar America, Inc. (NASDAQ:RAIL) by 90.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 188,369 shares of the transportation company’s stock after buying an additional 89,471 shares during the period. Allspring Global Investments Holdings LLC owned about 1.00% of FreightCar America worth $1,688,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Consolidated Portfolio Review Corp acquired a new stake in FreightCar America during the 4th quarter valued at $743,000. Walleye Capital LLC acquired a new stake in shares of FreightCar America in the third quarter valued at $813,000. Centiva Capital LP acquired a new stake in shares of FreightCar America in the third quarter valued at $453,000. XTX Topco Ltd bought a new position in shares of FreightCar America in the third quarter valued at about $247,000. Finally, Janney Montgomery Scott LLC acquired a new position in FreightCar America during the 4th quarter worth about $180,000. Institutional investors and hedge funds own 31.96% of the company’s stock.

FreightCar America Price Performance

RAIL stock opened at $8.76 on Friday. The company has a 50 day moving average price of $10.87 and a 200 day moving average price of $10.27. FreightCar America, Inc. has a fifty-two week low of $2.86 and a fifty-two week high of $16.10. The stock has a market capitalization of $165.48 million, a PE ratio of -2.07 and a beta of 1.96.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of FreightCar America from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th.

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.