Frequency Electronics (NASDAQ:FEIM) Trading 7.3% Higher – Time to Buy?

Shares of Frequency Electronics, Inc. (NASDAQ:FEIM) shot up 7.3% during mid-day trading on Tuesday . The stock traded as high as $55.85 and last traded at $55.75. 41,758 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 202,875 shares. The stock had previously closed at $51.95.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Frequency Electronics in a report on Monday, December 29th. Wall Street Zen lowered shares of Frequency Electronics from a “hold” rating to a “sell” rating in a report on Sunday, December 14th. Craig Hallum reaffirmed a “buy” rating and set a $46.00 price target on shares of Frequency Electronics in a report on Friday, December 12th. Finally, Loop Capital set a $42.00 price objective on shares of Frequency Electronics in a research note on Tuesday, December 16th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Frequency Electronics currently has a consensus rating of “Buy” and a consensus price target of $43.67.

Frequency Electronics Stock Up 8.3%

The stock has a market capitalization of $550.35 million, a P/E ratio of 25.70 and a beta of 0.36. The business’s 50 day simple moving average is $45.08 and its two-hundred day simple moving average is $35.94.

Frequency Electronics (NASDAQ:FEIM) last posted its earnings results on Thursday, December 11th. The communications equipment provider reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.12). The business had revenue of $17.13 million during the quarter, compared to analyst estimates of $16.87 million. Frequency Electronics had a return on equity of 38.07% and a net margin of 30.28%.

Institutional Trading of Frequency Electronics

Several institutional investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC bought a new stake in Frequency Electronics during the first quarter worth $183,000. Goldman Sachs Group Inc. grew its position in shares of Frequency Electronics by 67.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 54,528 shares of the communications equipment provider’s stock valued at $853,000 after acquiring an additional 21,934 shares during the period. Jane Street Group LLC lifted its stake in Frequency Electronics by 27.2% in the first quarter. Jane Street Group LLC now owns 27,610 shares of the communications equipment provider’s stock valued at $432,000 after purchasing an additional 5,909 shares during the last quarter. Farther Finance Advisors LLC purchased a new position in shares of Frequency Electronics during the 2nd quarter valued at $25,000. Finally, Ritholtz Wealth Management bought a new position in shares of Frequency Electronics during the 2nd quarter worth $232,000. Institutional investors own 58.60% of the company’s stock.

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.