James R. Meyer Purchases 23,400 Shares of FreightCar America, Inc. (NASDAQ:RAIL) Stock

FreightCar America, Inc. (NASDAQ:RAIL) Director James R. Meyer bought 23,400 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was bought at an average price of $10.74 per share, for a total transaction of $251,316.00. Following the purchase, the director now owns 838,278 shares in the company, valued at approximately $9,003,105.72. This represents a 2.87 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

FreightCar America Stock Up 15.0 %

RAIL stock opened at $10.84 on Wednesday. The stock has a market cap of $204.77 million, a PE ratio of -2.56 and a beta of 2.00. The firm’s 50-day simple moving average is $11.88 and its 200 day simple moving average is $6.91. FreightCar America, Inc. has a fifty-two week low of $2.25 and a fifty-two week high of $16.10.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RAIL. Allspring Global Investments Holdings LLC bought a new stake in FreightCar America during the third quarter worth approximately $1,067,000. Walleye Capital LLC purchased a new position in shares of FreightCar America during the third quarter valued at $813,000. Centiva Capital LP acquired a new position in FreightCar America in the 3rd quarter valued at approximately $453,000. Renaissance Technologies LLC increased its position in FreightCar America by 43.4% in the 2nd quarter. Renaissance Technologies LLC now owns 116,887 shares of the transportation company’s stock worth $408,000 after purchasing an additional 35,387 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in FreightCar America by 4.7% during the first quarter. Vanguard Group Inc. now owns 584,292 shares of the transportation company’s stock worth $2,250,000 after buying an additional 26,412 shares during the last quarter. 31.96% of the stock is owned by institutional investors and hedge funds.

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.