Short Interest in Frequency Electronics, Inc. (NASDAQ:FEIM) Grows By 23.7%

Frequency Electronics, Inc. (NASDAQ:FEIM) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 17,200 shares, an increase of 23.7% from the March 15th total of 13,900 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average trading volume of 55,000 shares, the short-interest ratio is currently 0.3 days.

Insider Activity

In other news, Director Russell M. Sarachek acquired 2,161 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was purchased at an average cost of $15.77 per share, with a total value of $34,078.97. Following the purchase, the director now directly owns 464,080 shares of the company’s stock, valued at approximately $7,318,541.60. This trade represents a 0.47 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 26.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FEIM. Global Retirement Partners LLC purchased a new position in shares of Frequency Electronics during the fourth quarter valued at approximately $27,000. Northern Trust Corp boosted its holdings in shares of Frequency Electronics by 6.6% in the 4th quarter. Northern Trust Corp now owns 32,630 shares of the communications equipment provider’s stock valued at $604,000 after purchasing an additional 2,008 shares during the last quarter. IFP Advisors Inc acquired a new position in Frequency Electronics in the fourth quarter valued at $85,000. JPMorgan Chase & Co. grew its position in Frequency Electronics by 373.6% during the fourth quarter. JPMorgan Chase & Co. now owns 6,161 shares of the communications equipment provider’s stock valued at $114,000 after acquiring an additional 4,860 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of Frequency Electronics by 37.7% in the 4th quarter. Millennium Management LLC now owns 29,622 shares of the communications equipment provider’s stock worth $549,000 after purchasing an additional 8,116 shares during the period. 58.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Frequency Electronics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 25th.

Frequency Electronics Stock Up 2.0 %

Shares of Frequency Electronics stock traded up $0.34 during trading on Friday, hitting $17.28. 27,753 shares of the company were exchanged, compared to its average volume of 63,320. Frequency Electronics has a fifty-two week low of $8.62 and a fifty-two week high of $20.33. The firm has a 50 day moving average price of $15.91 and a 200 day moving average price of $15.46. The stock has a market capitalization of $167.22 million, a price-to-earnings ratio of 21.07 and a beta of 0.43.

Frequency Electronics (NASDAQ:FEIM) last released its quarterly earnings results on Thursday, March 13th. The communications equipment provider reported $1.60 earnings per share for the quarter. The company had revenue of $18.93 million during the quarter. Frequency Electronics had a return on equity of 21.49% and a net margin of 13.02%.

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.