Frequency Electronics (NASDAQ:FEIM) Stock Price Up 12.8% – Here’s Why

Frequency Electronics, Inc. (NASDAQ:FEIM)’s share price was up 12.8% during trading on Tuesday . The stock traded as high as $51.75 and last traded at $51.6550. Approximately 234,292 shares traded hands during trading, an increase of 28% from the average daily volume of 182,725 shares. The stock had previously closed at $45.81.

Analysts Set New Price Targets

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

Frequency Electronics Price Performance

The stock’s 50-day moving average price is $52.70 and its 200 day moving average price is $39.54. The firm has a market cap of $509.14 million, a P/E ratio of 23.90 and a beta of 0.35.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Segall Bryant & Hamill LLC acquired a new stake in shares of Frequency Electronics in the 3rd quarter valued at approximately $10,425,000. Portolan Capital Management LLC bought a new stake in Frequency Electronics during the third quarter worth $6,912,000. Invesco Ltd. acquired a new stake in Frequency Electronics in the fourth quarter valued at $9,446,000. Next Century Growth Investors LLC grew its position in shares of Frequency Electronics by 200.4% in the 4th quarter. Next Century Growth Investors LLC now owns 219,463 shares of the communications equipment provider’s stock valued at $11,816,000 after acquiring an additional 146,397 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Frequency Electronics by 403.6% during the 3rd quarter. Millennium Management LLC now owns 136,976 shares of the communications equipment provider’s stock worth $4,645,000 after purchasing an additional 109,776 shares during the last quarter. 58.60% of the stock is currently owned by institutional investors.

Frequency Electronics Company Profile

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.