FreightCar America (NASDAQ:RAIL) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Shares of FreightCar America, Inc. (NASDAQ:RAIL) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.22 and traded as high as $10.55. FreightCar America shares last traded at $10.21, with a volume of 327,414 shares.

Analyst Upgrades and Downgrades

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

FreightCar America Price Performance

The company has a fifty day moving average of $10.63 and a two-hundred day moving average of $8.25. The stock has a market capitalization of $192.91 million, a P/E ratio of -2.41 and a beta of 1.96.

Insider Activity

In other FreightCar America news, Director James R. Meyer purchased 23,400 shares of the stock in a transaction dated Thursday, November 14th. The shares were bought at an average cost of $10.74 per share, with a total value of $251,316.00. Following the completion of the acquisition, the director now owns 838,278 shares of the company’s stock, valued at approximately $9,003,105.72. This trade represents a 2.87 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 28.00% of the company’s stock.

Hedge Funds Weigh In On FreightCar America

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in FreightCar America by 98.4% during the third quarter. JPMorgan Chase & Co. now owns 4,599 shares of the transportation company’s stock worth $50,000 after purchasing an additional 2,281 shares in the last quarter. Barclays PLC acquired a new position in shares of FreightCar America during the 3rd quarter valued at $73,000. Geode Capital Management LLC raised its stake in shares of FreightCar America by 12.4% in the 3rd quarter. Geode Capital Management LLC now owns 180,618 shares of the transportation company’s stock worth $1,950,000 after buying an additional 19,890 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of FreightCar America in the third quarter valued at $247,000. Finally, State Street Corp boosted its stake in FreightCar America by 21.6% during the third quarter. State Street Corp now owns 53,958 shares of the transportation company’s stock valued at $582,000 after buying an additional 9,600 shares in the last quarter. 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.