Frequency Electronics, Inc. (NASDAQ:FEIM) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totalling 5,400 shares, a growth of 42.1% from the May 15th total of 3,800 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 6,400 shares, the days-to-cover ratio is currently 0.8 days.
NASDAQ FEIM traded down $0.03 on Wednesday, reaching $10.77. 13,191 shares of the company’s stock traded hands, compared to its average volume of 8,695. Frequency Electronics has a 12 month low of $7.30 and a 12 month high of $13.52. The stock has a 50-day moving average price of $11.74.
In related news, Director Edenbrook Capital, Llc bought 21,500 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were acquired at an average cost of $11.70 per share, with a total value of $251,550.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders purchased 22,561 shares of company stock worth $264,009 over the last ninety days. 41.70% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of FEIM. Moors & Cabot Inc. grew its position in Frequency Electronics by 100.0% during the first quarter. Moors & Cabot Inc. now owns 77,634 shares of the communications equipment provider’s stock valued at $926,000 after acquiring an additional 38,817 shares during the last quarter. Morgan Stanley grew its position in Frequency Electronics by 106.7% during the third quarter. Morgan Stanley now owns 179,197 shares of the communications equipment provider’s stock valued at $1,858,000 after acquiring an additional 92,497 shares during the last quarter. BlackRock Inc. grew its position in Frequency Electronics by 3.7% during the fourth quarter. BlackRock Inc. now owns 191,798 shares of the communications equipment provider’s stock valued at $2,033,000 after acquiring an additional 6,882 shares during the last quarter. Royce & Associates LP grew its position in Frequency Electronics by 24.9% during the fourth quarter. Royce & Associates LP now owns 493,791 shares of the communications equipment provider’s stock valued at $5,234,000 after acquiring an additional 98,529 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Frequency Electronics by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 690,241 shares of the communications equipment provider’s stock worth $7,317,000 after purchasing an additional 10,416 shares during the last quarter. Institutional investors and hedge funds own 45.72% of the company’s stock.
Frequency Electronics Company Profile
Frequency Electronics, Inc designs, develops, manufactures, and sells precision time and frequency control products and components for microwave integrated circuit applications. It operates through two segments, FEI-NY and FEI-Zyfer. The FEI-NY segment offers precision time, frequency generation, and synchronization products and subsystems used in communication satellites, terrestrial cellular telephone, or other ground-based telecommunication stations; and other components and systems for the United States military.
Further Reading: Understanding Analyst Recommendations
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