Frequency Electronics (NASDAQ:FEIM) Shares Up 8% – What’s Next?

Frequency Electronics, Inc. (NASDAQ:FEIM) shares were up 8% during mid-day trading on Tuesday . The stock traded as high as $59.01 and last traded at $58.87. 184,327 shares were traded during trading, a decline of 4% from the average session volume of 191,376 shares. The stock had previously closed at $54.50.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wall Street Zen upgraded Frequency Electronics from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 4th. Freedom Capital raised shares of Frequency Electronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Frequency Electronics in a research report on Monday, June 15th. 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $43.67.

Frequency Electronics Stock Performance

The business’s fifty day moving average price is $65.59 and its two-hundred day moving average price is $56.73. The stock has a market capitalization of $580.14 million, a P/E ratio of 78.59 and a beta of 0.71.

Institutional Investors Weigh In On Frequency Electronics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Round Rock Advisors LLC boosted its holdings in shares of 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 worth $2,616,000 after purchasing an additional 29,347 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Frequency Electronics during the 4th quarter valued at $3,059,000. Villere ST Denis J & Co. LLC lifted its position in Frequency Electronics by 67.1% in 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 buying an additional 10,000 shares during the last quarter. Kornitzer Capital Management Inc. KS purchased a new position in Frequency Electronics during the fourth quarter worth $1,081,000. Finally, Sowell Financial Services LLC purchased a new position in Frequency Electronics during the fourth quarter worth $3,406,000. 58.60% of the stock is currently owned by hedge funds and other 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.