Frequency Electronics (NASDAQ:FEIM) Stock Falls 12.2% – Here’s What Happened

Frequency Electronics, Inc. (NASDAQ:FEIM)’s share price was down 12.2% on Thursday. The stock traded as low as $59.54 and last traded at $59.8740. Approximately 205,098 shares were traded during trading, a decline of 17% from the average daily volume of 248,143 shares. The stock had previously closed at $68.19.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FEIM. Weiss Ratings upgraded shares of Frequency Electronics from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Freedom Broker downgraded Frequency Electronics from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $77.00 to $91.00 in a report on Monday, September 14th. Finally, Wall Street Zen raised Frequency Electronics from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Frequency Electronics currently has a consensus rating of “Buy” and a consensus price target of $59.67.

Frequency Electronics Stock Down 9.7%

The firm has a market capitalization of $694.42 million, a P/E ratio of 246.40 and a beta of 0.65. The business has a 50-day moving average price of $73.52 and a 200-day moving average price of $67.07.

Frequency Electronics (NASDAQ:FEIM) last issued its quarterly earnings data on Thursday, September 10th. The communications equipment provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.26. Frequency Electronics had a return on equity of 3.63% and a net margin of 3.68%. The company had revenue of $23.45 million during the quarter, compared to analysts’ expectations of $17.85 million.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC grew its stake in Frequency Electronics by 29.8% in the third quarter. Farther Finance Advisors LLC now owns 666 shares of the communications equipment provider’s stock valued at $56,000 after acquiring an additional 153 shares during the period. First Trust Advisors LP increased its holdings in shares of Frequency Electronics by 0.9% in the first quarter. First Trust Advisors LP now owns 21,818 shares of the communications equipment provider’s stock worth $966,000 after acquiring an additional 190 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Frequency Electronics by 1.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 57,350 shares of the communications equipment provider’s stock worth $2,538,000 after purchasing an additional 541 shares during the period. IFP Advisors Inc raised its position in shares of Frequency Electronics by 46.0% during the second quarter. IFP Advisors Inc now owns 1,905 shares of the communications equipment provider’s stock worth $126,000 after purchasing an additional 600 shares during the period. Finally, XML Financial LLC raised its position in shares of Frequency Electronics by 12.6% during the first quarter. XML Financial LLC now owns 6,500 shares of the communications equipment provider’s stock worth $288,000 after purchasing an additional 725 shares during the period. Institutional investors and hedge funds own 58.60% of the company’s stock.

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.