StockNews.com Initiates Coverage on FreightCar America (NASDAQ:RAIL)

Stock analysts at StockNews.com initiated coverage on shares of FreightCar America (NASDAQ:RAIL – Get Rating) in a research note issued on Saturday. The firm set a “sell” rating on the transportation company’s stock.

FreightCar America Price Performance

Shares of RAIL stock opened at $3.68 on Friday. FreightCar America has a 12 month low of $3.07 and a 12 month high of $6.90. The firm has a market cap of $63.28 million, a PE ratio of -3.17 and a beta of 2.13. The stock has a 50 day moving average of $3.53 and a 200-day moving average of $3.75.

Insider Activity at FreightCar America

In other news, major shareholder Benavides Alejandro Gil bought 10,600 shares of the business’s stock in a transaction that occurred on Thursday, December 15th. The stock was acquired at an average cost of $3.48 per share, for a total transaction of $36,888.00. Following the completion of the purchase, the insider now owns 146,600 shares of the company’s stock, valued at approximately $510,168. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 15.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. acquired a new position in FreightCar America during the fourth quarter worth $44,000. Minerva Advisors LLC raised its stake in FreightCar America by 2.6% during the fourth quarter. Minerva Advisors LLC now owns 806,412 shares of the transportation company’s stock worth $2,548,000 after acquiring an additional 20,325 shares in the last quarter. Renaissance Technologies LLC raised its stake in FreightCar America by 14.2% during the fourth quarter. Renaissance Technologies LLC now owns 86,600 shares of the transportation company’s stock worth $277,000 after acquiring an additional 10,765 shares in the last quarter. UBS Group AG raised its stake in FreightCar America by 165.0% during the fourth quarter. UBS Group AG now owns 34,734 shares of the transportation company’s stock worth $111,000 after acquiring an additional 21,626 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of FreightCar America during the third quarter worth $50,000. 87.26% of the stock is currently owned by institutional investors and hedge funds.

FreightCar America Company Profile

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FreightCar America, Inc engages in the manufacture of railcars and railcar components. It operates through the Manufacturing and Corporate and Other segments. The Manufacturing segment includes new railcar manufacturing, used railcar sales, railcar leasing and major railcar rebuilds. The Corporate and Other segment focuses on the sales of parts.