Frequency Electronics (NASDAQ:FEIM) Shares Down 7.1% – Here’s Why

Frequency Electronics, Inc. (NASDAQ:FEIM)’s share price fell 7.1% during mid-day trading on Thursday . The stock traded as low as $62.68 and last traded at $62.4640. 274,590 shares changed hands during mid-day trading, an increase of 47% from the average session volume of 186,316 shares. The stock had previously closed at $67.27.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FEIM. Freedom Capital raised shares of Frequency Electronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Frequency Electronics in a research note on Monday, June 15th. Finally, Wall Street Zen upgraded shares of Frequency Electronics from a “strong sell” rating to a “sell” rating in a report on Saturday, April 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $43.67.

Frequency Electronics Price Performance

The business has a 50 day moving average price of $63.56 and a 200 day moving average price of $55.20. The stock has a market capitalization of $615.20 million, a PE ratio of 83.36 and a beta of 0.67.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FEIM. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Frequency Electronics during the third quarter valued at approximately $25,000. Flagship Harbor Advisors LLC bought a new position in Frequency Electronics in the 4th quarter valued at approximately $26,000. Kestra Advisory Services LLC bought a new position in Frequency Electronics in the 4th quarter valued at approximately $27,000. Wexford Capital LP purchased a new stake in Frequency Electronics during the 3rd quarter valued at $32,000. Finally, BNP Paribas Financial Markets boosted its stake in 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 purchasing an additional 731 shares during the last quarter. 58.60% of the stock is owned by hedge funds and other institutional investors.

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.