Frequency Electronics (NASDAQ:FEIM) Stock Crosses Below 200 Day Moving Average – Should You Sell?

Frequency Electronics, Inc. (NASDAQ:FEIM) crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $62.61 and traded as low as $58.76. Frequency Electronics shares last traded at $61.52, with a volume of 363,751 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Freedom Broker downgraded shares of Frequency Electronics from a “buy” rating to a “hold” rating and lifted their target price for the stock from $77.00 to $91.00 in a research report on Monday, September 14th. Weiss Ratings cut shares of Frequency Electronics from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 23rd. Finally, Wall Street Zen raised shares of Frequency Electronics from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Frequency Electronics currently has a consensus rating of “Moderate Buy” and an average price target of $59.67.

Frequency Electronics Price Performance

The firm has a market capitalization of $678.68 million, a P/E ratio of 263.12 and a beta of 0.75. The stock has a fifty day simple moving average of $73.02 and a two-hundred day simple moving average of $62.61.

Frequency Electronics (NASDAQ:FEIM) last posted its quarterly earnings results on Thursday, September 10th. The communications equipment provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.26. Frequency Electronics had a return on equity of 3.63% and a net margin of 3.68%. The firm had revenue of $23.45 million for the quarter, compared to analysts’ expectations of $17.85 million.

Hedge Funds Weigh In On Frequency Electronics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC grew its holdings in shares of Frequency Electronics by 29.8% during the third quarter. Farther Finance Advisors LLC now owns 666 shares of the communications equipment provider’s stock valued at $56,000 after buying an additional 153 shares during the last quarter. First Trust Advisors LP grew its position in Frequency Electronics by 0.9% during the first quarter. First Trust Advisors LP now owns 21,818 shares of the communications equipment provider’s stock valued at $966,000 after buying an additional 190 shares during the period. Jacobi Capital Management LLC purchased a new stake in shares of Frequency Electronics during the 3rd quarter worth approximately $42,000. Allspring Global Investments Holdings LLC increased its position in Frequency Electronics by 1.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 57,350 shares of the communications equipment provider’s stock worth $2,538,000 after buying an additional 541 shares during the last quarter. Finally, IFP Advisors Inc raised its stake in Frequency Electronics by 46.0% in the 2nd quarter. IFP Advisors Inc now owns 1,905 shares of the communications equipment provider’s stock valued at $126,000 after acquiring an additional 600 shares during the period. Institutional investors own 58.60% of the company’s stock.

About Frequency Electronics

Frequency Electronics, Inc (NASDAQ: FEIM) develops and manufactures precision timing and frequency-control products for demanding communications, aerospace, defense and commercial applications. Its technologies are designed to generate, stabilize and distribute highly accurate timing signals used by electronic systems and networks.

The company’s product portfolio includes crystal oscillators, frequency synthesizers, timing and synchronization systems, GPS/GNSS-disciplined timing products, atomic frequency references and related components.