FreightCar America, Inc. (NASDAQ:RAIL)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $6.41 and traded as high as $4.25. FreightCar America shares last traded at $4.23, with a volume of 1,344 shares trading hands.
A number of analysts recently issued reports on the company. ValuEngine upgraded FreightCar America from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded FreightCar America from a “sell” rating to a “hold” rating in a research note on Saturday, August 3rd. Finally, Cowen restated a “hold” rating and issued a $6.00 target price on shares of FreightCar America in a research note on Monday, August 5th. Six equities research analysts have rated the stock with a hold rating, FreightCar America presently has an average rating of “Hold” and an average target price of $7.00.
The firm has a market capitalization of $51.94 million, a P/E ratio of -2.38 and a beta of 1.43. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.32 and a current ratio of 2.21. The business has a 50 day simple moving average of $5.20 and a two-hundred day simple moving average of $6.41.
A number of hedge funds and other institutional investors have recently made changes to their positions in RAIL. Trexquant Investment LP purchased a new stake in FreightCar America in the 2nd quarter worth approximately $70,000. Citadel Advisors LLC purchased a new stake in FreightCar America in the 2nd quarter worth approximately $80,000. Jane Street Group LLC purchased a new stake in FreightCar America in the 2nd quarter worth approximately $92,000. Morgan Stanley lifted its holdings in FreightCar America by 791.4% in the 2nd quarter. Morgan Stanley now owns 29,070 shares of the transportation company’s stock worth $171,000 after buying an additional 25,809 shares during the period. Finally, Millennium Management LLC purchased a new stake in FreightCar America in the 4th quarter worth approximately $247,000. Institutional investors and hedge funds own 70.37% of the company’s stock.
About FreightCar America (NASDAQ:RAIL)
FreightCar America, Inc, through its subsidiaries, designs, manufactures, and sells railcars for the transportation of bulk commodities and containerized freight products primarily in North America. It operates through two segments, Manufacturing and Parts. The company offers a range of freight cars, including open top hoppers, covered hoppers, and gondolas; intermodal flats, such as well cars; and non-intermodal flat cars comprising slab, hot slab, ribbon rail, and bulkhead flats.
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