Frequency Electronics (NASDAQ:FEIM) Stock Price Up 8.5% – Time to Buy?

Frequency Electronics, Inc. (NASDAQ:FEIM)’s share price shot up 8.5% during trading on Tuesday . The stock traded as high as $71.39 and last traded at $72.4170. Approximately 33,601 shares were traded during trading, a decline of 83% from the average daily volume of 203,550 shares. The stock had previously closed at $66.72.

Analyst Ratings Changes

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

Frequency Electronics Stock Up 14.8%

The stock has a market cap of $753.94 million, a P/E ratio of -851.33 and a beta of 0.71. The firm’s 50-day moving average is $65.83 and its two-hundred day moving average is $56.92.

Frequency Electronics (NASDAQ:FEIM) last posted its earnings results on Wednesday, July 15th. The communications equipment provider reported ($0.50) EPS for the quarter, missing the consensus estimate of $0.26 by ($0.76). Frequency Electronics had a negative return on equity of 1.55% and a negative net margin of 1.43%.The business had revenue of $15.40 million for the quarter, compared to analyst estimates of $18.57 million.

Institutional Investors Weigh In On Frequency Electronics

Several hedge funds have recently modified their holdings of FEIM. Caitong International Asset Management Co. Ltd bought a new position in Frequency Electronics during the third quarter worth $25,000. Flagship Harbor Advisors LLC acquired a new stake in Frequency Electronics in the 4th quarter worth $26,000. Kestra Advisory Services LLC acquired a new stake in Frequency Electronics in the 4th quarter worth $27,000. Wexford Capital LP bought a new position in shares of Frequency Electronics during the 3rd quarter worth about $32,000. Finally, BNP Paribas Financial Markets increased its holdings 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 purchasing an additional 731 shares during the period. 58.60% of the stock is owned by institutional investors.

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.