Frequency Electronics (NASDAQ:FEIM) Stock Crosses Below 200-Day Moving Average – Time to Sell?

Shares of Frequency Electronics, Inc. (NASDAQ:FEIM) passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $62.61 and traded as low as $58.76. Frequency Electronics shares last traded at $61.52, with a volume of 363,751 shares.

Analysts Set New Price Targets

Several brokerages have issued reports on FEIM. Freedom Broker lowered Frequency Electronics from a “buy” rating to a “hold” rating and increased their price target for the stock from $77.00 to $91.00 in a report on Monday, September 14th. Wall Street Zen upgraded Frequency Electronics from a “hold” rating to a “buy” rating in a report on Saturday, October 10th. Finally, Weiss Ratings lowered Frequency Electronics from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $59.67.

Frequency Electronics Stock Down 7.6%

The business’s 50-day moving average is $73.22 and its two-hundred day moving average is $62.61. The company has a market capitalization of $693.33 million, a P/E ratio of 246.08 and a beta of 0.75.

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

Hedge Funds Weigh In On Frequency Electronics

Large investors have recently modified their holdings of the company. Navellier & Associates Inc. grew its position in shares of Frequency Electronics by 161.2% during the 2nd quarter. Navellier & Associates Inc. now owns 30,095 shares of the communications equipment provider’s stock valued at $1,997,000 after purchasing an additional 18,575 shares in the last quarter. Bank of America Corp DE bought a new position in shares of Frequency Electronics during the 2nd quarter valued at about $439,000. GSA Capital Partners LLP purchased a new position in shares of Frequency Electronics during the second quarter worth approximately $1,552,000. Raiffeisen Bank International AG lifted its stake in Frequency Electronics by 350.0% in the second quarter. Raiffeisen Bank International AG now owns 54,000 shares of the communications equipment provider’s stock worth $3,336,000 after purchasing an additional 42,000 shares during the last quarter. Finally, BlackRock Inc. bought a new stake in shares of Frequency Electronics in the 2nd quarter valued at about $34,273,000. 58.60% of the stock is currently owned by institutional investors.

Frequency Electronics Company Profile

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.