Frequency Electronics (NASDAQ:FEIM) Shares Up 8.2% – Still a Buy?

Frequency Electronics, Inc. (NASDAQ:FEIM) shares rose 8.2% on Wednesday . The stock traded as high as $57.54 and last traded at $57.8340. Approximately 74,153 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 216,109 shares. The stock had previously closed at $53.47.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FEIM shares. UBS Group set a $43.00 target price on Frequency Electronics in a research report on Thursday, September 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of Frequency Electronics in a research note on Wednesday, October 8th. Wall Street Zen downgraded Frequency Electronics from a “hold” rating to a “sell” rating in a report on Sunday, December 14th. Loop Capital set a $42.00 price target on shares of Frequency Electronics in a report on Tuesday, December 16th. Finally, Craig Hallum restated a “buy” rating and set a $46.00 price objective on shares of Frequency Electronics in a research note on Friday, December 12th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Frequency Electronics has a consensus rating of “Buy” and an average price target of $43.67.

Frequency Electronics Trading Up 10.1%

The business’s 50-day simple moving average is $34.73 and its 200 day simple moving average is $30.10. The company has a market capitalization of $575.70 million, a P/E ratio of 26.89 and a beta of 0.46.

Frequency Electronics (NASDAQ:FEIM) last posted its quarterly earnings data on Thursday, December 11th. The communications equipment provider reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.12). Frequency Electronics had a net margin of 30.28% and a return on equity of 38.07%. The company had revenue of $17.13 million for the quarter, compared to analyst estimates of $16.87 million.

Hedge Funds Weigh In On Frequency Electronics

Several hedge funds have recently made changes to their positions in the business. OMERS ADMINISTRATION Corp bought a new stake in shares of Frequency Electronics during the 1st quarter worth $180,000. Trexquant Investment LP purchased a new position in shares of Frequency Electronics during the first quarter valued at $331,000. Apis Capital Advisors LLC acquired a new position in Frequency Electronics during the first quarter valued at $313,000. Cubist Systematic Strategies LLC purchased a new stake in Frequency Electronics in the 1st quarter worth about $183,000. Finally, Goldman Sachs Group Inc. grew its stake in Frequency Electronics by 67.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 54,528 shares of the communications equipment provider’s stock valued at $853,000 after acquiring an additional 21,934 shares in the last quarter. Institutional investors and hedge funds 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.