Frequency Electronics (NASDAQ:FEIM) Stock Price Up 12.8% – Still a Buy?

Frequency Electronics, Inc. (NASDAQ:FEIM)’s stock price was up 12.8% during trading on Tuesday . The company traded as high as $51.75 and last traded at $51.6550. Approximately 234,292 shares changed hands during trading, an increase of 28% from the average daily volume of 182,725 shares. The stock had previously closed at $45.81.

Analysts Set New Price Targets

FEIM has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Frequency Electronics in a research note on Monday, December 29th. Loop Capital set a $42.00 price objective on shares of Frequency Electronics in a research report on Tuesday, December 16th. Craig Hallum reaffirmed a “buy” rating and set a $46.00 price objective on shares of Frequency Electronics in a report on Friday, December 12th. Finally, Wall Street Zen cut Frequency Electronics from a “hold” rating to a “sell” rating in a research note on Sunday, December 14th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $43.67.

Frequency Electronics Price Performance

The business’s 50 day simple moving average is $52.70 and its 200-day simple moving average is $39.54. The stock has a market capitalization of $509.14 million, a P/E ratio of 23.90 and a beta of 0.35.

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

Hedge Funds Weigh In On Frequency Electronics

Several institutional investors have recently modified their holdings of the stock. Flagship Harbor Advisors LLC acquired a new stake in shares of Frequency Electronics in the 4th quarter valued at approximately $26,000. Kestra Advisory Services LLC bought a new stake in Frequency Electronics in the fourth quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd bought a new stake in Frequency Electronics in the third quarter valued at approximately $25,000. State of Wyoming acquired a new stake in Frequency Electronics in the fourth quarter worth $49,000. Finally, Wexford Capital LP bought a new position in shares of Frequency Electronics during the third quarter worth $32,000. 58.60% of the stock is currently owned by institutional investors and hedge funds.

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.