Frequency Electronics (NASDAQ:FEIM) Shares Up 10.8% – Here’s What Happened

Frequency Electronics, Inc. (NASDAQ:FEIM) shares rose 10.8% during trading on Monday . The stock traded as high as $53.59 and last traded at $55.6380. Approximately 25,250 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 182,204 shares. The stock had previously closed at $50.21.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Loop Capital set a $42.00 target price on Frequency Electronics in a research report on Tuesday, December 16th. Craig Hallum restated a “buy” rating and set a $46.00 target price on shares of Frequency Electronics in a research report on Friday, December 12th. Weiss Ratings reiterated a “buy (b+)” rating on shares of Frequency Electronics in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded shares of Frequency Electronics from a “hold” rating to a “sell” rating in a research report on Sunday, December 14th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Frequency Electronics currently has an average rating of “Buy” and an average price target of $43.67.

Frequency Electronics Stock Up 10.4%

The stock has a fifty day simple moving average of $53.21 and a 200 day simple moving average of $40.14. The firm has a market capitalization of $541.95 million, a P/E ratio of 25.32 and a beta of 0.35.

Frequency Electronics (NASDAQ:FEIM) last released its earnings results on Thursday, December 11th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.12). Frequency Electronics had a return on equity of 38.07% and a net margin of 30.28%.The business had revenue of $17.13 million for the quarter, compared to analysts’ expectations of $16.87 million.

Hedge Funds Weigh In On Frequency Electronics

Hedge funds and other institutional investors have recently modified their holdings of the stock. GatePass Capital LLC bought a new stake in shares of Frequency Electronics in the 3rd quarter worth about $848,000. Principal Financial Group Inc. purchased a new stake in shares of Frequency Electronics in the third quarter worth approximately $803,000. Navellier & Associates Inc. bought a new stake in shares of Frequency Electronics during the third quarter worth $915,000. Corsair Capital Management L.P. bought a new stake in Frequency Electronics during the 2nd quarter valued at about $511,000. Finally, Thompson Davis & CO. Inc. boosted its holdings in shares of Frequency Electronics by 82.9% in the second quarter. Thompson Davis & CO. Inc. now owns 25,985 shares of the communications equipment provider’s stock valued at $590,000 after purchasing an additional 11,775 shares during the period. Institutional investors own 58.60% of the company’s stock.

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.