Frequency Electronics (NASDAQ:FEIM) Trading Up 14.1% – Here’s Why

Frequency Electronics, Inc. (NASDAQ:FEIM)’s stock price traded up 14.1% on Tuesday . The stock traded as high as $68.24 and last traded at $68.83. Approximately 123,402 shares were traded during trading, a decline of 46% from the average session volume of 226,788 shares. The stock had previously closed at $60.30.

Analysts Set New Price Targets

FEIM has been the subject of a number of research analyst reports. Freedom Capital raised shares of Frequency Electronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Weiss Ratings lowered shares of Frequency Electronics from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, July 20th. Finally, Wall Street Zen raised Frequency Electronics from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 4th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Frequency Electronics currently has an average rating of “Buy” and an average price target of $43.67.

Frequency Electronics Price Performance

The firm has a market cap of $736.65 million, a price-to-earnings ratio of -829.28 and a beta of 0.73. The business has a fifty day simple moving average of $67.08 and a 200 day simple moving average of $57.90.

Frequency Electronics (NASDAQ:FEIM) last announced its quarterly earnings data 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). Frequency Electronics had a negative net margin of 1.43% and a negative return on equity of 1.56%. The firm had revenue of $15.40 million during the quarter, compared to analysts’ expectations of $18.57 million.

Hedge Funds Weigh In On Frequency Electronics

Institutional investors and hedge funds have recently bought and sold shares of the business. Cubist Systematic Strategies LLC acquired a new stake in Frequency Electronics in the 1st quarter valued at about $183,000. Goldman Sachs Group Inc. boosted its holdings in shares of Frequency Electronics by 67.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 54,528 shares of the communications equipment provider’s stock worth $853,000 after purchasing an additional 21,934 shares during the last quarter. Jane Street Group LLC grew its position in shares of Frequency Electronics by 27.2% in the first quarter. Jane Street Group LLC now owns 27,610 shares of the communications equipment provider’s stock valued at $432,000 after purchasing an additional 5,909 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Frequency Electronics by 82.3% in the second quarter. Geode Capital Management LLC now owns 175,381 shares of the communications equipment provider’s stock valued at $3,984,000 after purchasing an additional 79,181 shares during the last quarter. Finally, Rhumbline Advisers acquired a new stake in shares of Frequency Electronics in the second quarter valued at approximately $224,000. 58.60% of the stock is currently owned by institutional investors and hedge funds.

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.