FreightCar America (NASDAQ:RAIL) Shares Down 9.3%

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Shares of FreightCar America, Inc. (NASDAQ:RAIL) traded down 9.3% during trading on Wednesday . The stock traded as low as $2.11 and last traded at $2.15. 1,135,197 shares traded hands during trading, an increase of 643% from the average session volume of 152,714 shares. The stock had previously closed at $2.37.

Separately, Zacks Investment Research upgraded shares of FreightCar America from a “sell” rating to a “hold” rating in a report on Tuesday, August 4th.

The stock has a market cap of $28.64 million, a price-to-earnings ratio of -0.41 and a beta of 1.97. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.75 and a current ratio of 1.22. The company’s 50 day simple moving average is $1.78 and its two-hundred day simple moving average is $1.40.

FreightCar America (NASDAQ:RAIL) last announced its quarterly earnings results on Monday, August 10th. The transportation company reported ($0.97) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.79) by ($0.18). FreightCar America had a negative return on equity of 54.13% and a negative net margin of 69.29%. The business had revenue of $17.46 million for the quarter. On average, equities research analysts predict that FreightCar America, Inc. will post -3.62 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in RAIL. Virtu Financial LLC acquired a new stake in shares of FreightCar America during the 2nd quarter worth about $49,000. Wittenberg Investment Management Inc. boosted its stake in shares of FreightCar America by 19.6% in the 2nd quarter. Wittenberg Investment Management Inc. now owns 39,284 shares of the transportation company’s stock valued at $49,000 after purchasing an additional 6,443 shares during the last quarter. Needham Investment Management LLC boosted its stake in shares of FreightCar America by 62.5% in the 1st quarter. Needham Investment Management LLC now owns 65,000 shares of the transportation company’s stock valued at $60,000 after purchasing an additional 25,000 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in FreightCar America by 24.8% during the 1st quarter. Bank of New York Mellon Corp now owns 137,836 shares of the transportation company’s stock worth $128,000 after acquiring an additional 27,386 shares during the last quarter. Finally, Bridgeway Capital Management Inc. boosted its stake in FreightCar America by 73.2% during the 2nd quarter. Bridgeway Capital Management Inc. now owns 118,300 shares of the transportation company’s stock worth $147,000 after acquiring an additional 50,000 shares during the last quarter. Institutional investors and hedge funds own 34.45% of the company’s stock.

FreightCar America Company Profile (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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