Frequency Electronics (NASDAQ:FEIM) Shares Gap Down – Here’s What Happened

Frequency Electronics, Inc. (NASDAQ:FEIM)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $61.07, but opened at $56.29. Frequency Electronics shares last traded at $56.6510, with a volume of 7,436 shares traded.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on FEIM shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Frequency Electronics in a research report on Monday, June 15th. 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, 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. One research 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 company. According to MarketBeat.com, Frequency Electronics currently has an average rating of “Buy” and an average price target of $43.67.

Frequency Electronics Stock Down 2.0%

The firm has a market cap of $552.94 million, a price-to-earnings ratio of 74.76 and a beta of 0.71. The business has a 50 day moving average price of $65.50 and a 200-day moving average price of $56.73.

Institutional Investors Weigh In On Frequency Electronics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ausbil Investment Management Ltd acquired a new stake in shares of Frequency Electronics during the second quarter valued at about $515,000. Bank of America Corp DE grew its position in shares of Frequency Electronics by 53.1% during the first quarter. Bank of America Corp DE now owns 9,565 shares of the communications equipment provider’s stock worth $423,000 after buying an additional 3,318 shares in the last quarter. Sei Investments Co. increased its stake in shares of Frequency Electronics by 93.1% in the first quarter. Sei Investments Co. now owns 91,706 shares of the communications equipment provider’s stock worth $4,059,000 after buying an additional 44,218 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Frequency Electronics by 0.9% in the first quarter. First Trust Advisors LP now owns 21,818 shares of the communications equipment provider’s stock worth $966,000 after buying an additional 190 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Frequency Electronics by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 257,402 shares of the communications equipment provider’s stock valued at $11,391,000 after acquiring an additional 6,948 shares in the last quarter. Hedge funds and other institutional investors own 58.60% of the company’s stock.

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.