Frequency Electronics (NASDAQ:FEIM) Shares Up 8.5% – Here’s Why

Shares of Frequency Electronics, Inc. (NASDAQ:FEIM) were up 8.5% during trading on Tuesday . The stock traded as high as $71.39 and last traded at $72.4170. 33,601 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 203,550 shares. The stock had previously closed at $66.72.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wall Street Zen raised Frequency Electronics from a “strong sell” rating to a “sell” rating in a report on Saturday, July 4th. Freedom Capital upgraded shares of Frequency Electronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings cut shares of Frequency Electronics from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $43.67.

Frequency Electronics Stock Performance

The firm has a market capitalization of $714.49 million, a P/E ratio of -804.33 and a beta of 0.71. The stock has a 50-day moving average of $66.45 and a 200 day moving average of $57.24.

Frequency Electronics (NASDAQ:FEIM) last released its quarterly earnings results on Wednesday, July 15th. The communications equipment provider reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.76). The business had revenue of $15.40 million for the quarter, compared to analyst estimates of $18.57 million. Frequency Electronics had a negative net margin of 1.43% and a negative return on equity of 1.56%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Round Rock Advisors LLC boosted its position in Frequency Electronics by 152.5% in the 4th quarter. Round Rock Advisors LLC now owns 48,595 shares of the communications equipment provider’s stock valued at $2,616,000 after buying an additional 29,347 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Frequency Electronics during the fourth quarter worth $3,059,000. Villere ST Denis J & Co. LLC raised its position in shares of Frequency Electronics by 67.1% during the fourth quarter. Villere ST Denis J & Co. LLC now owns 24,896 shares of the communications equipment provider’s stock worth $1,340,000 after acquiring an additional 10,000 shares during the last quarter. Kornitzer Capital Management Inc. KS acquired a new position in shares of Frequency Electronics during the fourth quarter valued at $1,081,000. Finally, Sowell Financial Services LLC acquired a new position in shares of Frequency Electronics during the fourth quarter valued at $3,406,000. 58.60% of the stock is owned by institutional investors.

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.