10 Best Autonomous Driving Stocks To Buy According To Short Sellers

7. Westinghouse Air Brake Technologies Corporation (NYSE:WAB)

Short Interest as % of  Shares Outstanding: 1.40%

Number of Hedge Fund Investors In Q2 2024: 60

Westinghouse Air Brake Technologies Corporation (NYSE:WAB) is one of the oldest railroad companies in the world. It has a diversified product portfolio which includes locomotives, braking systems, and refurbishment. While others are focusing on autonomous cars, Westinghouse Air Brake Technologies Corporation (NYSE:WAB) is one of the few firms of its kind that is focusing on autonomous trains. The firm completed a massive $11 billion merger with GE’s transport business in 2019, as both firms aimed to complement their strengths and eradicate weaknesses in developing autonomous trains. Now, Westinghouse Air Brake Technologies Corporation (NYSE:WAB) offers train operators the ability to remotely control trains during loading and unloading and during yard movements such as set outs and pick ups. While these products push any potential exposure to the firm from autonomous trains far out in the future, they also position Westinghouse Air Brake Technologies Corporation (NYSE:WAB) as one of the likeliest firms to develop autonomy in one of the oldest logistics systems in the world.

Westinghouse Air Brake Technologies Corporation (NYSE:WAB) is also making big moves in the clean train industry as management shared during the Q2 2024 earnings call:

“In North America, we secured a multiyear order for greater than $600 million. This is one of our largest orders for new Tier 4 locomotives ever. It demonstrates customer demand for a best-in-class solution to improve productivity, reduce fuel usage, improve reliability and to significantly reduce emissions. I would also like to share with you a key international services order, a 10-year agreement in Brazil for which Wabtec will manage the servicing of Vale’s locomotives fleet to increase availability, reliability and safety. In Pakistan, we recently won a strategic order for 15 modernizations for Pakistan Railway. This is a great example of the opportunities that we have to modernize locomotives in our international markets.”