Frequency Electronics (NASDAQ:FEIM) Trading Up 9% – Here’s Why

Frequency Electronics, Inc. (NASDAQ:FEIM) shares traded up 9% during trading on Tuesday . The stock traded as high as $66.25 and last traded at $67.3410. Approximately 30,833 shares were traded during trading, a decline of 84% from the average daily volume of 188,061 shares. The stock had previously closed at $61.77.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on FEIM shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Frequency Electronics in a report on Monday, June 15th. Wall Street Zen raised shares of Frequency Electronics from a “strong sell” rating to a “sell” rating in a report on Saturday, April 11th. Finally, Freedom Capital upgraded shares of Frequency Electronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $43.67.

Frequency Electronics Stock Performance

The company’s fifty day moving average price is $64.01 and its two-hundred day moving average price is $55.97. The firm has a market capitalization of $647.37 million, a PE ratio of 87.72 and a beta of 0.71.

Hedge Funds Weigh In On Frequency Electronics

A number of hedge funds have recently made changes to their positions in FEIM. Segall Bryant & Hamill LLC acquired a new stake in shares of Frequency Electronics during the 3rd quarter worth $10,425,000. Portolan Capital Management LLC purchased a new position in shares of Frequency Electronics in the 3rd quarter worth $6,912,000. Invesco Ltd. acquired a new position in Frequency Electronics in the fourth quarter valued at $9,446,000. Next Century Growth Investors LLC grew its position in Frequency Electronics by 200.4% during the fourth quarter. Next Century Growth Investors LLC now owns 219,463 shares of the communications equipment provider’s stock valued at $11,816,000 after acquiring an additional 146,397 shares during the period. Finally, Millennium Management LLC grew its position in Frequency Electronics by 403.6% during the third quarter. Millennium Management LLC now owns 136,976 shares of the communications equipment provider’s stock valued at $4,645,000 after acquiring an additional 109,776 shares during the period. Institutional investors and hedge funds 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.