Frequency Electronics (NASDAQ:FEIM) Stock Price Down 8.9% – Here’s What Happened

Frequency Electronics, Inc. (NASDAQ:FEIM) was down 8.9% on Monday . The company traded as low as $53.01 and last traded at $52.3950. Approximately 90,366 shares changed hands during trading, a decline of 52% from the average daily volume of 188,711 shares. The stock had previously closed at $57.53.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on FEIM shares. Freedom Capital raised shares of Frequency Electronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Wall Street Zen raised shares of Frequency Electronics from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 11th. Finally, Weiss Ratings downgraded shares of Frequency Electronics from a “buy (b+)” rating to a “hold (c+)” rating in a research note on Wednesday, March 18th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $43.67.

Frequency Electronics Stock Up 1.7%

The stock has a market capitalization of $562.36 million, a P/E ratio of 76.20 and a beta of 0.53. The firm’s 50 day simple moving average is $50.86 and its two-hundred day simple moving average is $46.14.

Frequency Electronics (NASDAQ:FEIM) last posted its quarterly earnings results on Wednesday, March 11th. The communications equipment provider reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.14). Frequency Electronics had a net margin of 10.78% and a return on equity of 12.69%. The company had revenue of $16.89 million during the quarter, compared to the consensus estimate of $19.06 million.

Institutional Investors Weigh In On Frequency Electronics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd bought a new stake in Frequency Electronics in the third quarter valued at $25,000. Flagship Harbor Advisors LLC bought a new stake in shares of Frequency Electronics during the fourth quarter worth about $26,000. Kestra Advisory Services LLC bought a new stake in shares of Frequency Electronics during the fourth quarter worth about $27,000. Wexford Capital LP bought a new stake in shares of Frequency Electronics during the third quarter worth about $32,000. Finally, BNP Paribas Financial Markets increased its position in shares of Frequency Electronics by 130.5% during the third quarter. BNP Paribas Financial Markets now owns 1,291 shares of the communications equipment provider’s stock worth $44,000 after acquiring an additional 731 shares in the last quarter. 58.60% of the stock is 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.