Frequency Electronics (NASDAQ:FEIM) Shares Down 6.6% – Should You Sell?

Frequency Electronics, Inc. (NASDAQ:FEIM) shares fell 6.6% on Wednesday . The company traded as low as $70.44 and last traded at $70.2460. Approximately 114,355 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 225,848 shares. The stock had previously closed at $75.17.

Analysts Set New Price Targets

A number of research analysts recently weighed in on FEIM shares. Wall Street Zen upgraded Frequency Electronics from a “strong sell” rating to a “sell” rating in a report on Saturday, July 4th. Freedom Capital upgraded Frequency Electronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings downgraded Frequency Electronics from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Frequency Electronics has an average rating of “Buy” and an average price target of $43.67.

Frequency Electronics Price Performance

The business has a fifty day moving average of $67.96 and a 200 day moving average of $59.24. The stock has a market cap of $689.81 million, a PE ratio of -776.00 and a beta of 0.73.

Frequency Electronics (NASDAQ:FEIM) last posted its quarterly earnings data on Wednesday, July 15th. The communications equipment provider reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.76). The company had revenue of $15.40 million for the quarter, compared to the consensus estimate of $18.57 million. Frequency Electronics had a negative net margin of 1.43% and a negative return on equity of 1.56%.

Hedge Funds Weigh In On Frequency Electronics

A number of hedge funds have recently bought and sold shares of FEIM. BlackRock Inc. bought a new stake in Frequency Electronics in the second quarter valued at about $34,273,000. Dimensional Fund Advisors LP lifted its holdings in Frequency Electronics by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 257,402 shares of the communications equipment provider’s stock worth $11,391,000 after buying an additional 6,948 shares during the last quarter. Next Century Growth Investors LLC grew its position in shares of Frequency Electronics by 200.4% in the 4th quarter. Next Century Growth Investors LLC now owns 219,463 shares of the communications equipment provider’s stock worth $11,816,000 after acquiring an additional 146,397 shares in the last quarter. UBS Group AG grew its position in shares of Frequency Electronics by 63.8% in the 3rd quarter. UBS Group AG now owns 208,334 shares of the communications equipment provider’s stock worth $7,065,000 after acquiring an additional 81,165 shares in the last quarter. Finally, Invesco Ltd. bought a new stake in shares of Frequency Electronics in the 4th quarter valued at approximately $9,446,000. 58.60% of the stock is currently owned by institutional investors and hedge funds.

About Frequency Electronics

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.