Frequency Electronics (NASDAQ:FEIM) Trading Down 7.8% – What’s Next?

Frequency Electronics, Inc. (NASDAQ:FEIM)’s stock price fell 7.8% during trading on Wednesday . The stock traded as low as $51.60 and last traded at $51.7810. 138,116 shares were traded during mid-day trading, a decline of 36% from the average session volume of 216,565 shares. The stock had previously closed at $56.18.

Wall Street Analyst Weigh In

Several brokerages recently commented on FEIM. Wall Street Zen downgraded shares of Frequency Electronics from a “hold” rating to a “sell” rating in a report on Sunday, December 14th. Weiss Ratings restated a “buy (b+)” rating on shares of Frequency Electronics in a report on Monday, December 29th. Loop Capital set a $42.00 price target on Frequency Electronics in a report on Tuesday, December 16th. Finally, Craig Hallum reiterated a “buy” rating and set a $46.00 price objective on shares of Frequency Electronics in a research report on Friday, December 12th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, Frequency Electronics has an average rating of “Buy” and an average price target of $43.67.

Frequency Electronics Stock Performance

The company has a market capitalization of $528.99 million, a price-to-earnings ratio of 24.70 and a beta of 0.36. The firm has a fifty day moving average price of $43.10 and a 200-day moving average price of $35.07.

Frequency Electronics (NASDAQ:FEIM) last posted its quarterly earnings data on Thursday, December 11th. The communications equipment provider reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.12). Frequency Electronics had a return on equity of 38.07% and a net margin of 30.28%.The firm had revenue of $17.13 million for the quarter, compared to the consensus estimate of $16.87 million.

Institutional Investors Weigh In On Frequency Electronics

Large investors have recently modified their holdings of the business. Flagship Harbor Advisors LLC bought a new stake in shares of Frequency Electronics during the 4th quarter worth $26,000. Caitong International Asset Management Co. Ltd acquired a new position in Frequency Electronics during the third quarter worth about $25,000. BNP Paribas Financial Markets boosted its stake in shares of Frequency Electronics by 130.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,291 shares of the communications equipment provider’s stock valued at $44,000 after purchasing an additional 731 shares in the last quarter. Ritholtz Wealth Management boosted its stake in shares of Frequency Electronics by 7.7% in the 3rd quarter. Ritholtz Wealth Management now owns 10,981 shares of the communications equipment provider’s stock valued at $372,000 after purchasing an additional 784 shares in the last quarter. Finally, Wexford Capital LP bought a new stake in shares of Frequency Electronics during the 3rd quarter valued at approximately $32,000. Institutional investors and hedge funds own 58.60% of the company’s stock.

About Frequency Electronics

Frequency Electronics, Inc (NASDAQ:FEIM) is a U.S.-based designer and manufacturer of precision frequency control products and timing solutions. The company’s portfolio includes oven-controlled crystal oscillators (OCXOs), atomic frequency standards such as rubidium oscillators, GPS-disciplined oscillators (GPSDOs), microwave synthesizers, and integrated timing subsystems. These products are used to provide stable and accurate frequency and time references for applications that demand high performance and reliability.

FEI serves a broad range of markets, including telecommunications, aerospace and defense, satellite and space systems, test and measurement equipment, and critical infrastructure.