Frequency Electronics (NASDAQ:FEIM) Trading Down 5.6% – Here’s What Happened

Frequency Electronics, Inc. (NASDAQ:FEIM)’s share price dropped 5.6% during mid-day trading on Monday . The stock traded as low as $71.10 and last traded at $71.0660. 30,840 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 183,465 shares. The stock had previously closed at $75.28.

Analyst Ratings Changes

A number of brokerages have recently commented on FEIM. Freedom Capital raised shares of Frequency Electronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Wall Street Zen raised Frequency Electronics from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 11th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Frequency Electronics in a research report on Monday. One 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.com, the company currently has an average rating of “Buy” and a consensus target price of $43.67.

Frequency Electronics Trading Up 0.1%

The firm’s 50-day moving average price is $61.51 and its two-hundred day moving average price is $53.16. The stock has a market cap of $690.96 million, a PE ratio of 93.63 and a beta of 0.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC purchased a new stake in shares of Frequency Electronics during the 1st quarter worth $183,000. Goldman Sachs Group Inc. grew its stake in Frequency Electronics by 67.3% in the first quarter. Goldman Sachs Group Inc. now owns 54,528 shares of the communications equipment provider’s stock valued at $853,000 after purchasing an additional 21,934 shares during the last quarter. Jane Street Group LLC lifted its position in shares of Frequency Electronics by 27.2% during the first quarter. Jane Street Group LLC now owns 27,610 shares of the communications equipment provider’s stock valued at $432,000 after buying an additional 5,909 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Frequency Electronics by 82.3% in the 2nd quarter. Geode Capital Management LLC now owns 175,381 shares of the communications equipment provider’s stock valued at $3,984,000 after buying an additional 79,181 shares in the last quarter. Finally, Rhumbline Advisers bought a new stake in shares of Frequency Electronics in the 2nd quarter valued at about $224,000. 58.60% of the stock is currently owned by hedge funds and other institutional investors.

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.