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

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

Analyst Ratings Changes

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

Frequency Electronics Stock Performance

The firm has a market capitalization of $520.10 million, a P/E ratio of 24.28 and a beta of 0.36. The firm has a 50 day simple moving average of $44.59 and a two-hundred day simple moving average of $35.55.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FEIM. Farther Finance Advisors LLC bought a new stake in shares of Frequency Electronics during the 2nd quarter worth $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in Frequency Electronics during the third quarter worth about $25,000. Flagship Harbor Advisors LLC purchased a new stake in Frequency Electronics during the fourth quarter worth about $26,000. Police & Firemen s Retirement System of New Jersey bought a new stake in Frequency Electronics in the second quarter worth about $30,000. Finally, Wexford Capital LP purchased a new position in Frequency Electronics in the third quarter valued at about $32,000. 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.