Frequency Electronics (NASDAQ:FEIM) Reaches New 52-Week High – Here’s What Happened

Shares of Frequency Electronics, Inc. (NASDAQ:FEIM) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $80.17 and last traded at $79.85, with a volume of 398693 shares traded. The stock had previously closed at $66.72.

Analysts Set New Price Targets

A number of brokerages recently commented on FEIM. Wall Street Zen raised Frequency Electronics from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 4th. Freedom Capital raised Frequency Electronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings downgraded Frequency Electronics from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday. 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. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $43.67.

Frequency Electronics Price Performance

The business’s fifty day moving average price is $66.23 and its 200-day moving average price is $57.11. The stock has a market capitalization of $788.12 million, a price-to-earnings ratio of -887.22 and a beta of 0.71.

Frequency Electronics (NASDAQ:FEIM) last posted its earnings results on Wednesday, July 15th. The communications equipment provider reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.76). The business had revenue of $15.40 million during the quarter, compared to analyst estimates of $18.57 million. Frequency Electronics had a negative return on equity of 1.56% and a negative net margin of 1.43%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Flagship Harbor Advisors LLC bought a new stake in Frequency Electronics during the fourth quarter worth $26,000. Kestra Advisory Services LLC bought a new position in Frequency Electronics during the 4th quarter valued at $27,000. Caitong International Asset Management Co. Ltd bought a new position in Frequency Electronics during the 3rd quarter valued at $25,000. State of Wyoming purchased a new position in Frequency Electronics during the 4th quarter worth $49,000. Finally, Wexford Capital LP purchased a new position in Frequency Electronics during the 3rd quarter worth $32,000. Hedge funds and other institutional investors own 58.60% of the company’s stock.

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.