Frequency Electronics (NASDAQ:FEIM) Trading Up 9% – Here’s What Happened

Frequency Electronics, Inc. (NASDAQ:FEIM) shares were up 9% during trading on Tuesday . The stock traded as high as $66.25 and last traded at $67.3410. 30,833 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 188,061 shares. The stock had previously closed at $61.77.

Analysts Set New Price Targets

Several brokerages recently weighed in on FEIM. Wall Street Zen upgraded Frequency Electronics from a “strong sell” rating to a “sell” rating in a report on Saturday, April 11th. Freedom Capital upgraded Frequency Electronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Frequency Electronics in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $43.67.

Frequency Electronics Price Performance

The company has a market capitalization of $651.68 million, a P/E ratio of 88.23 and a beta of 0.67. The company has a 50 day moving average of $63.62 and a 200-day moving average of $55.54.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Flagship Harbor Advisors LLC purchased a new position in shares of Frequency Electronics during the fourth quarter valued at about $26,000. Kestra Advisory Services LLC purchased a new position in shares of Frequency Electronics during the 4th quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Frequency Electronics in the 3rd quarter worth approximately $25,000. State of Wyoming bought a new position in shares of Frequency Electronics in the 4th quarter worth approximately $49,000. Finally, Wexford Capital LP purchased a new position in shares of Frequency Electronics in the 3rd quarter valued at approximately $32,000. 58.60% of the stock is currently owned by institutional investors.

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.