Frequency Electronics (NASDAQ:FEIM) Stock Price Down 7.7% – Time to Sell?

Frequency Electronics, Inc. (NASDAQ:FEIM)’s stock price dropped 7.7% on Wednesday. The company traded as low as $80.76 and last traded at $80.41. 150,894 shares were traded during mid-day trading, a decline of 39% from the average session volume of 247,003 shares. The stock had previously closed at $87.13.

Analyst Ratings Changes

A number of brokerages have weighed in on FEIM. Wall Street Zen upgraded shares of Frequency Electronics from a “sell” rating to a “hold” rating in a report on Saturday, September 12th. Weiss Ratings raised shares of Frequency Electronics from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Wednesday, September 16th. Finally, Freedom Broker cut Frequency Electronics from a “buy” rating to a “hold” rating and raised their target price for the stock from $77.00 to $91.00 in a report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.67.

Frequency Electronics Price Performance

The company has a 50-day moving average of $73.03 and a 200 day moving average of $65.02. The company has a market cap of $896.16 million, a PE ratio of 319.80 and a beta of 0.65.

Frequency Electronics (NASDAQ:FEIM) last posted its quarterly earnings data on Thursday, September 10th. The communications equipment provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.26. The business had revenue of $23.45 million during the quarter, compared to analyst estimates of $17.85 million. Frequency Electronics had a return on equity of 3.63% and a net margin of 3.68%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. WINTON GROUP Ltd bought a new stake in shares of Frequency Electronics during the second quarter worth $362,000. IFP Advisors Inc boosted its position in Frequency Electronics by 46.0% in the 2nd quarter. IFP Advisors Inc now owns 1,905 shares of the communications equipment provider’s stock valued at $126,000 after buying an additional 600 shares during the period. Squarepoint Ops LLC grew its stake in Frequency Electronics by 43.3% in the 2nd quarter. Squarepoint Ops LLC now owns 18,862 shares of the communications equipment provider’s stock worth $1,251,000 after acquiring an additional 5,702 shares in the last quarter. Raiffeisen Bank International AG increased its position in shares of Frequency Electronics by 350.0% during the second quarter. Raiffeisen Bank International AG now owns 54,000 shares of the communications equipment provider’s stock worth $3,336,000 after acquiring an additional 42,000 shares during the period. Finally, XML Financial LLC raised its stake in shares of Frequency Electronics by 15.4% during the second quarter. XML Financial LLC now owns 7,500 shares of the communications equipment provider’s stock valued at $498,000 after acquiring an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 58.60% of the company’s stock.

About Frequency Electronics

Frequency Electronics, Inc (NASDAQ: FEIM) designs and manufactures precision timing, frequency-control and synchronization products. Its technologies are used to generate, stabilize and distribute highly accurate timing signals for systems that require reliable frequency performance.

The company’s products include crystal oscillators, atomic frequency standards, frequency synthesizers, GPS- and GNSS-disciplined timing devices, and time-and-frequency distribution systems. These products support applications in aerospace and defense, satellite communications, telecommunications, and other commercial and industrial markets.

Founded in 1961, Frequency Electronics serves customers in the United States and international markets.