Frequency Electronics (NASDAQ:FEIM) Downgraded by Wall Street Zen to Buy

Wall Street Zen lowered shares of Frequency Electronics (NASDAQ:FEIM) from a strong-buy rating to a buy rating in a research note issued to investors on Friday morning.

Frequency Electronics Stock Performance

Shares of Frequency Electronics stock opened at $19.11 on Friday. The firm has a market cap of $184.93 million, a PE ratio of 23.31 and a beta of 0.43. The firm’s 50-day simple moving average is $17.68 and its 200-day simple moving average is $16.78. Frequency Electronics has a 1 year low of $8.62 and a 1 year high of $21.00.

Frequency Electronics (NASDAQ:FEIM) last announced its quarterly earnings data on Thursday, March 13th. The communications equipment provider reported $1.60 earnings per share for the quarter. Frequency Electronics had a net margin of 13.02% and a return on equity of 21.49%. The business had revenue of $18.93 million during the quarter.

Insider Activity at Frequency Electronics

In other Frequency Electronics news, Director Russell M. Sarachek acquired 2,161 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was acquired at an average price of $15.77 per share, with a total value of $34,078.97. Following the transaction, the director now directly owns 464,080 shares in the company, valued at approximately $7,318,541.60. This represents a 0.47% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 26.10% of the company’s stock.

Institutional Investors Weigh In On Frequency Electronics

Institutional investors have recently modified their holdings of the business. Global Retirement Partners LLC bought a new position in Frequency Electronics in the 4th quarter worth about $27,000. IFP Advisors Inc bought a new position in Frequency Electronics in the 4th quarter worth about $85,000. JPMorgan Chase & Co. grew its position in Frequency Electronics by 373.6% in the 4th quarter. JPMorgan Chase & Co. now owns 6,161 shares of the communications equipment provider’s stock worth $114,000 after purchasing an additional 4,860 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new position in Frequency Electronics in the 1st quarter worth about $180,000. Finally, Cubist Systematic Strategies LLC bought a new position in Frequency Electronics in the 1st quarter worth about $183,000. Institutional investors own 58.60% of the company’s stock.

About Frequency Electronics

Frequency Electronics, Inc, together with its subsidiaries, engages in designing, development, and manufacturing of precision time and frequency control products and components for microwave integrated circuit applications. It operates through two segments, FEI-NY and FEI-Zyfer. The FEI-NY segment offers precision time and frequency control products for communication satellites, terrestrial cellular telephone or other ground-based telecommunication stations; and other components and systems for the U.S.