Frequency Electronics (NASDAQ:FEIM) Shares Up 10.5% – What’s Next?

Frequency Electronics, Inc. (NASDAQ:FEIM) shares shot up 10.5% during trading on Thursday . The stock traded as high as $72.00 and last traded at $73.6010. 25,237 shares changed hands during trading, a decline of 86% from the average session volume of 183,868 shares. The stock had previously closed at $66.63.

Analysts Set New Price Targets

Several brokerages have commented on FEIM. Weiss Ratings downgraded shares of Frequency Electronics from a “buy (b+)” rating to a “hold (c+)” rating in a research report on Wednesday, March 18th. Wall Street Zen raised shares of Frequency Electronics from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 11th. Finally, Freedom Capital raised shares of Frequency Electronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Frequency Electronics presently has an average rating of “Buy” and a consensus price target of $43.67.

Frequency Electronics Stock Up 11.6%

The business’s 50 day simple moving average is $59.36 and its two-hundred day simple moving average is $51.85. The stock has a market cap of $731.98 million, a P/E ratio of 100.27 and a beta of 0.67.

Frequency Electronics (NASDAQ:FEIM) last posted its earnings results on Wednesday, March 11th. The communications equipment provider reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.14). The company had revenue of $16.89 million for the quarter, compared to the consensus estimate of $19.06 million. Frequency Electronics had a return on equity of 12.69% and a net margin of 10.78%.

Institutional Trading of Frequency Electronics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd bought a new stake in shares of Frequency Electronics during the third quarter worth $25,000. Flagship Harbor Advisors LLC bought a new stake in shares of Frequency Electronics during the fourth quarter worth $26,000. Kestra Advisory Services LLC bought a new stake in shares of Frequency Electronics in the fourth quarter worth $27,000. Wexford Capital LP bought a new stake in shares of Frequency Electronics in the third quarter worth $32,000. Finally, BNP Paribas Financial Markets grew its stake in shares of Frequency Electronics by 130.5% in the third quarter. BNP Paribas Financial Markets now owns 1,291 shares of the communications equipment provider’s stock worth $44,000 after purchasing an additional 731 shares during the last quarter. Institutional investors own 58.60% of the company’s stock.

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.