Frequency Electronics (NASDAQ:FEIM) Sees Large Volume Increase – Here’s What Happened

Shares of Frequency Electronics, Inc. (NASDAQ:FEIM) saw unusually-strong trading volume on Thursday . Approximately 253,774 shares traded hands during trading, an increase of 31% from the previous session’s volume of 193,413 shares.The stock last traded at $51.7490 and had previously closed at $59.27.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FEIM. Wall Street Zen upgraded shares of Frequency Electronics from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Frequency Electronics in a report on Monday, June 15th. Finally, Freedom Capital upgraded shares of Frequency Electronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $43.67.

Frequency Electronics Stock Up 17.4%

The firm has a market capitalization of $648.46 million, a P/E ratio of -732.22 and a beta of 0.71. The business’s 50-day simple moving average is $65.78 and its 200 day simple moving average is $56.83.

Frequency Electronics (NASDAQ:FEIM) last issued its earnings results on Wednesday, July 15th. The communications equipment provider reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.76). The firm had revenue of $15.40 million during the quarter, compared to the consensus estimate of $18.57 million. Frequency Electronics had a negative return on equity of 1.55% and a negative net margin of 1.43%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FEIM. Ausbil Investment Management Ltd bought a new position in Frequency Electronics in the second quarter worth about $515,000. Bank of America Corp DE raised its position in shares of Frequency Electronics by 53.1% in the 1st quarter. Bank of America Corp DE now owns 9,565 shares of the communications equipment provider’s stock worth $423,000 after purchasing an additional 3,318 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Frequency Electronics by 93.1% in the first quarter. Sei Investments Co. now owns 91,706 shares of the communications equipment provider’s stock worth $4,059,000 after buying an additional 44,218 shares in the last quarter. First Trust Advisors LP lifted its position in Frequency Electronics by 0.9% in the 1st quarter. First Trust Advisors LP now owns 21,818 shares of the communications equipment provider’s stock valued at $966,000 after acquiring an additional 190 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Frequency Electronics by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 257,402 shares of the communications equipment provider’s stock worth $11,391,000 after buying an additional 6,948 shares in the last quarter. Institutional investors 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.