Frequency Electronics (NASDAQ:FEIM) Hits New 1-Year High – Here’s Why

Frequency Electronics, Inc. (NASDAQ:FEIM) hit a new 52-week high during trading on Friday . The company traded as high as $62.44 and last traded at $61.1150, with a volume of 101856 shares changing hands. The stock had previously closed at $54.81.

Analyst Ratings Changes

A number of research firms have recently weighed in on FEIM. Wall Street Zen upgraded shares of Frequency Electronics from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 11th. Weiss Ratings lowered shares of Frequency Electronics from a “buy (b+)” rating to a “hold (c+)” rating in a report on Wednesday, March 18th. Finally, Freedom Capital raised Frequency Electronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Frequency Electronics currently has an average rating of “Buy” and an average target price of $43.67.

Frequency Electronics Stock Performance

The stock has a market cap of $604.84 million, a PE ratio of 81.88 and a beta of 0.53. The company has a 50 day moving average of $50.92 and a two-hundred day moving average of $46.29.

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

Institutional Trading of Frequency Electronics

A number of institutional investors and hedge funds have recently modified their holdings of FEIM. Caitong International Asset Management Co. Ltd purchased a new position in Frequency Electronics in the 3rd quarter valued at about $25,000. Flagship Harbor Advisors LLC acquired a new position in Frequency Electronics in the 4th quarter valued at about $26,000. Kestra Advisory Services LLC purchased a new stake in shares of Frequency Electronics in the 4th quarter valued at approximately $27,000. Wexford Capital LP acquired a new stake in shares of Frequency Electronics during the 3rd quarter worth approximately $32,000. Finally, BNP Paribas Financial Markets raised its position in shares of Frequency Electronics by 130.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,291 shares of the communications equipment provider’s stock valued at $44,000 after buying an additional 731 shares during the period. Hedge funds and other 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.