Frequency Electronics, Inc. (NASDAQ:FEIM) Sees Significant Growth in Short Interest

Frequency Electronics, Inc. (NASDAQ:FEIM) saw a large growth in short interest in February. As of February 27th, there was short interest totaling 650,355 shares, a growth of 16.8% from the February 12th total of 556,913 shares. Currently, 9.2% of the company’s stock are short sold. Based on an average daily volume of 134,735 shares, the short-interest ratio is presently 4.8 days. Based on an average daily volume of 134,735 shares, the short-interest ratio is presently 4.8 days. Currently, 9.2% of the company’s stock are short sold.

Frequency Electronics Price Performance

NASDAQ FEIM opened at $47.96 on Tuesday. The company has a fifty day moving average of $52.74 and a two-hundred day moving average of $41.87. The company has a market capitalization of $469.07 million, a PE ratio of 64.07 and a beta of 0.35. Frequency Electronics has a 1 year low of $14.41 and a 1 year high of $61.47.

Frequency Electronics (NASDAQ:FEIM) last posted its earnings results on Wednesday, March 11th. The communications equipment provider reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.14). The firm had revenue of $16.89 million for the quarter, compared to analyst estimates of $19.06 million. Frequency Electronics had a return on equity of 12.88% and a net margin of 10.78%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Frequency Electronics

A number of institutional investors have recently modified their holdings of the business. Segall Bryant & Hamill LLC purchased a new position in Frequency Electronics during the 3rd quarter worth $10,425,000. Portolan Capital Management LLC purchased a new position in shares of Frequency Electronics during the 3rd quarter worth approximately $6,912,000. Invesco Ltd. acquired a new stake in shares of Frequency Electronics in the 4th quarter valued at approximately $9,446,000. Next Century Growth Investors LLC boosted its stake in shares of Frequency Electronics by 200.4% in 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 buying an additional 146,397 shares in the last quarter. Finally, Millennium Management LLC grew its holdings 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 worth $4,645,000 after acquiring an additional 109,776 shares during the period. 58.60% of the stock is owned by institutional investors and hedge funds.

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.