Frequency Electronics (NASDAQ:FEIM) Sees Unusually-High Trading Volume – Here’s Why

Frequency Electronics, Inc. (NASDAQ:FEIM) shares saw unusually-high trading volume on Wednesday . 665,685 shares changed hands during trading, an increase of 214% from the previous session’s volume of 211,819 shares.The stock last traded at $60.6170 and had previously closed at $66.46.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FEIM shares. Freedom Capital upgraded shares of Frequency Electronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Weiss Ratings cut Frequency Electronics from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, July 20th. Finally, Wall Street Zen raised Frequency Electronics from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 4th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Frequency Electronics currently has an average rating of “Buy” and an average target price of $43.67.

Frequency Electronics Stock Performance

The stock has a 50-day simple moving average of $67.44 and a 200 day simple moving average of $57.71. The company has a market cap of $569.54 million, a P/E ratio of -646.44 and a beta of 0.71.

Frequency Electronics (NASDAQ:FEIM) last posted its quarterly earnings results on Wednesday, July 15th. The communications equipment provider reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate 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%.

Hedge Funds Weigh In On Frequency Electronics

Several institutional investors have recently added to or reduced their stakes in FEIM. Dimensional Fund Advisors LP grew its stake in Frequency Electronics by 2.8% during the first quarter. Dimensional Fund Advisors LP now owns 257,402 shares of the communications equipment provider’s stock worth $11,391,000 after buying an additional 6,948 shares during the last quarter. Next Century Growth Investors LLC grew its position in Frequency Electronics by 200.4% during the 4th quarter. Next Century Growth Investors LLC now owns 219,463 shares of the communications equipment provider’s stock worth $11,816,000 after acquiring an additional 146,397 shares during the last quarter. UBS Group AG increased its holdings in Frequency Electronics by 63.8% during the 3rd quarter. UBS Group AG now owns 208,334 shares of the communications equipment provider’s stock valued at $7,065,000 after purchasing an additional 81,165 shares in the last quarter. Invesco Ltd. bought a new position in Frequency Electronics in the 4th quarter valued at $9,446,000. Finally, Geode Capital Management LLC boosted its stake in Frequency Electronics by 82.3% in the second quarter. Geode Capital Management LLC now owns 175,381 shares of the communications equipment provider’s stock worth $3,984,000 after purchasing an additional 79,181 shares in the last quarter. 58.60% of the stock is owned by institutional investors.

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.