Frequency Electronics (NASDAQ:FEIM) Shares Down 7.8% – Here’s Why

Frequency Electronics, Inc. (NASDAQ:FEIM) traded down 7.8% on Wednesday . The company traded as low as $51.60 and last traded at $51.7810. 138,116 shares changed hands during trading, a decline of 36% from the average session volume of 216,565 shares. The stock had previously closed at $56.18.

Analyst Ratings Changes

Several research firms have commented on FEIM. Loop Capital set a $42.00 target price on Frequency Electronics in a research report on Tuesday, December 16th. Wall Street Zen lowered shares of Frequency Electronics from a “hold” rating to a “sell” rating in a report on Sunday, December 14th. Weiss Ratings restated a “buy (b+)” rating on shares of Frequency Electronics in a report on Monday, December 29th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $46.00 target price on shares of Frequency Electronics in a report on Friday, December 12th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $43.67.

Frequency Electronics Price Performance

The stock has a fifty day simple moving average of $43.10 and a two-hundred day simple moving average of $35.07. The firm has a market capitalization of $528.99 million, a P/E ratio of 24.70 and a beta of 0.36.

Frequency Electronics (NASDAQ:FEIM) last issued 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 company had revenue of $17.13 million for the quarter, compared to the consensus estimate of $16.87 million.

Institutional Investors Weigh In On Frequency Electronics

Several hedge funds and other institutional investors have recently modified their holdings of FEIM. Farther Finance Advisors LLC acquired a new position in Frequency Electronics during the 2nd quarter valued at about $25,000. Caitong International Asset Management Co. Ltd bought a new stake in Frequency Electronics in the third quarter worth about $25,000. Flagship Harbor Advisors LLC purchased a new position in Frequency Electronics in the fourth quarter valued at approximately $26,000. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Frequency Electronics during the 2nd quarter valued at $30,000. Finally, Wexford Capital LP purchased a new stake in Frequency Electronics in the 3rd quarter worth about $32,000. Institutional investors own 58.60% of the company’s stock.

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.