Frequency Electronics (NASDAQ:FEIM) Rating Lowered to “Sell” at Wall Street Zen

Frequency Electronics (NASDAQ:FEIM) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “sell” rating in a research report issued to clients and investors on Sunday.

A number of other equities research analysts have also recently commented on the company. Craig Hallum initiated coverage on Frequency Electronics in a research note on Thursday, September 18th. They set a “buy” rating and a $43.00 price objective for the company. UBS Group set a $43.00 target price on Frequency Electronics in a report on Thursday. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $43.00.

Frequency Electronics Stock Down 2.8%

Shares of Frequency Electronics stock opened at $29.89 on Friday. Frequency Electronics has a 12 month low of $11.71 and a 12 month high of $34.84. The business has a fifty day simple moving average of $28.68 and a 200 day simple moving average of $21.92. The stock has a market cap of $291.43 million, a PE ratio of 13.05 and a beta of 0.50.

Frequency Electronics (NASDAQ:FEIM) last announced its quarterly earnings data on Thursday, September 11th. The communications equipment provider reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.29). Frequency Electronics had a return on equity of 44.02% and a net margin of 32.10%.The company had revenue of $13.81 million for the quarter, compared to analyst estimates of $16.53 million. During the same period last year, the firm earned $0.25 earnings per share.

Hedge Funds Weigh In On Frequency Electronics

A number of institutional investors have recently bought and sold shares of the business. Thompson Davis & CO. Inc. increased its position in Frequency Electronics by 72.3% during the second quarter. Thompson Davis & CO. Inc. now owns 24,485 shares of the communications equipment provider’s stock worth $556,000 after buying an additional 10,275 shares during the last quarter. Militia Capital Partners LP acquired a new position in Frequency Electronics during the second quarter worth approximately $677,000. Lazard Asset Management LLC grew its position in shares of Frequency Electronics by 10,807.7% in the second quarter. Lazard Asset Management LLC now owns 4,254 shares of the communications equipment provider’s stock valued at $96,000 after purchasing an additional 4,215 shares during the last quarter. Bank of America Corp DE grew its position in shares of Frequency Electronics by 3,558.9% in the second quarter. Bank of America Corp DE now owns 2,671 shares of the communications equipment provider’s stock valued at $61,000 after purchasing an additional 2,598 shares during the last quarter. Finally, Ameriprise Financial Inc. acquired a new position in shares of Frequency Electronics in the second quarter valued at approximately $409,000. Institutional investors and hedge funds own 58.60% of the company’s stock.

Frequency Electronics Company Profile

Frequency Electronics, Inc, together with its subsidiaries, engages in designing, development, and manufacturing of 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 and frequency control products for communication satellites, terrestrial cellular telephone or other ground-based telecommunication stations; and other components and systems for the U.S.