Moors & Cabot Inc. Sells 11,699 Shares of Frequency Electronics, Inc. $FEIM

Moors & Cabot Inc. decreased its position in Frequency Electronics, Inc. (NASDAQ:FEIM) by 44.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,464 shares of the communications equipment provider’s stock after selling 11,699 shares during the quarter. Moors & Cabot Inc.’s holdings in Frequency Electronics were worth $328,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC bought a new position in shares of Frequency Electronics during the second quarter worth about $25,000. IFP Advisors Inc boosted its position in Frequency Electronics by 67.4% during the 1st quarter. IFP Advisors Inc now owns 7,700 shares of the communications equipment provider’s stock worth $121,000 after acquiring an additional 3,100 shares during the last quarter. Ritholtz Wealth Management acquired a new position in Frequency Electronics during the 2nd quarter worth approximately $232,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Frequency Electronics in the first quarter valued at approximately $180,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Frequency Electronics in the first quarter worth $183,000. 58.60% of the stock is owned by institutional investors and hedge funds.

Frequency Electronics Price Performance

Shares of FEIM opened at $31.79 on Friday. The company has a market cap of $309.92 million, a PE ratio of 13.88 and a beta of 0.47. The firm has a 50-day moving average of $33.91 and a 200-day moving average of $26.53. Frequency Electronics, Inc. has a one year low of $12.62 and a one year high of $41.12.

Frequency Electronics (NASDAQ:FEIM) last issued its earnings results on Thursday, September 11th. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.29). Frequency Electronics had a net margin of 32.10% and a return on equity of 44.02%. The firm had revenue of $13.81 million during the quarter, compared to analyst estimates of $16.53 million. During the same quarter last year, the business posted $0.25 earnings per share.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Frequency Electronics in a report on Wednesday, October 8th. UBS Group set a $43.00 price objective on shares of Frequency Electronics in a research note on Thursday, September 18th. Wall Street Zen cut Frequency Electronics from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Craig Hallum began coverage on Frequency Electronics in a report on Thursday, September 18th. They set a “buy” rating and a $43.00 target price on the stock. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Frequency Electronics has an average rating of “Buy” and an average target price of $43.00.

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.