Frequency Electronics, Inc. $FEIM Shares Sold by Sowell Financial Services LLC

Sowell Financial Services LLC lowered its position in Frequency Electronics, Inc. (NASDAQ:FEIM) by 92.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,529 shares of the communications equipment provider’s stock after selling 42,738 shares during the quarter. Sowell Financial Services LLC’s holdings in Frequency Electronics were worth $298,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hidden Cove Wealth Management LLC purchased a new position in Frequency Electronics during the third quarter worth about $414,000. Farther Finance Advisors LLC grew its stake in shares of Frequency Electronics by 29.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 666 shares of the communications equipment provider’s stock valued at $56,000 after buying an additional 153 shares during the period. Zevenbergen Capital Investments LLC purchased a new stake in shares of Frequency Electronics in the 3rd quarter valued at approximately $222,000. Ausbil Investment Management Ltd increased its holdings in shares of Frequency Electronics by 19.1% during the 3rd quarter. Ausbil Investment Management Ltd now owns 9,335 shares of the communications equipment provider’s stock worth $789,000 after buying an additional 1,500 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in shares of Frequency Electronics during the 2nd quarter worth approximately $362,000. 58.60% of the stock is currently owned by institutional investors and hedge funds.

Frequency Electronics Stock Up 4.8%

Shares of NASDAQ FEIM opened at $67.28 on Tuesday. The business’s 50 day moving average is $73.26 and its two-hundred day moving average is $62.21. Frequency Electronics, Inc. has a 52-week low of $26.05 and a 52-week high of $89.76. The firm has a market cap of $758.25 million, a price-to-earnings ratio of 256.72 and a beta of 0.65.

Frequency Electronics (NASDAQ:FEIM) last released its quarterly earnings results on Thursday, September 10th. The communications equipment provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.15 by $0.26. Frequency Electronics had a return on equity of 3.63% and a net margin of 3.68%. The business had revenue of $23.45 million during the quarter, compared to analyst estimates of $17.85 million.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FEIM. Wall Street Zen raised shares of Frequency Electronics from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. Weiss Ratings lowered Frequency Electronics from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. Finally, Freedom Broker lowered Frequency Electronics from a “buy” rating to a “hold” rating and increased their price objective for the stock from $77.00 to $91.00 in a research report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $59.67.

About Frequency Electronics

Frequency Electronics, Inc (NASDAQ: FEIM) develops and manufactures precision timing and frequency-control products for demanding communications, aerospace, defense and commercial applications. Its technologies are designed to generate, stabilize and distribute highly accurate timing signals used by electronic systems and networks.

The company’s product portfolio includes crystal oscillators, frequency synthesizers, timing and synchronization systems, GPS/GNSS-disciplined timing products, atomic frequency references and related components.