Frequency Electronics (NASDAQ:FEIM) Trading Down 8.5% – What’s Next?

Frequency Electronics, Inc. (NASDAQ:FEIM) was down 8.5% during mid-day trading on Wednesday . The company traded as low as $57.02 and last traded at $56.9240. Approximately 144,720 shares changed hands during mid-day trading, a decline of 24% from the average session volume of 190,412 shares. The stock had previously closed at $62.22.

Analyst Ratings Changes

Several brokerages recently commented on FEIM. Wall Street Zen upgraded shares of Frequency Electronics from a “strong sell” rating to a “sell” rating in a report on Saturday, July 4th. Freedom Capital raised shares of Frequency Electronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Frequency Electronics in a report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $43.67.

Frequency Electronics Price Performance

The firm’s 50 day moving average is $65.30 and its two-hundred day moving average is $56.70. The firm has a market capitalization of $559.87 million, a P/E ratio of 75.95 and a beta of 0.71.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new stake in Frequency Electronics in the 3rd quarter valued at about $25,000. Flagship Harbor Advisors LLC bought a new stake in Frequency Electronics in the fourth quarter valued at approximately $26,000. Kestra Advisory Services LLC acquired a new stake in shares of Frequency Electronics in the fourth quarter valued at approximately $27,000. Wexford Capital LP acquired a new stake in shares of Frequency Electronics in the third quarter valued at approximately $32,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Frequency Electronics by 130.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,291 shares of the communications equipment provider’s stock worth $44,000 after acquiring an additional 731 shares during the period. 58.60% of the stock is currently owned by institutional investors and hedge funds.

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.