Frequency Electronics (NASDAQ:FEIM) Stock Price Up 12.8% – What’s Next?

Frequency Electronics, Inc. (NASDAQ:FEIM)’s stock price traded up 12.8% on Tuesday . The stock traded as high as $51.75 and last traded at $51.6550. 234,292 shares were traded during mid-day trading, an increase of 28% from the average session volume of 182,725 shares. The stock had previously closed at $45.81.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on FEIM shares. Loop Capital set a $42.00 price target on shares of Frequency Electronics in a report on Tuesday, December 16th. Craig Hallum reiterated a “buy” rating and issued a $46.00 price objective on shares of Frequency Electronics in a research report on Friday, December 12th. Weiss Ratings restated a “buy (b+)” rating on shares of Frequency Electronics in a research report on Monday, December 29th. Finally, Wall Street Zen lowered Frequency Electronics from a “hold” rating to a “sell” rating in a research note on Sunday, December 14th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $43.67.

Frequency Electronics Stock Performance

The company has a 50 day moving average of $53.17 and a 200-day moving average of $39.87. The stock has a market cap of $497.31 million, a price-to-earnings ratio of 23.22 and a beta of 0.35.

Frequency Electronics (NASDAQ:FEIM) last released its earnings results on Thursday, December 11th. The communications equipment provider reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.12). The firm had revenue of $17.13 million during the quarter, compared to analyst estimates of $16.87 million. Frequency Electronics had a net margin of 30.28% and a return on equity of 38.07%.

Hedge Funds Weigh In On Frequency Electronics

Several institutional investors have recently modified their holdings of FEIM. GatePass Capital LLC purchased a new stake in Frequency Electronics during the 3rd quarter worth about $848,000. Principal Financial Group Inc. acquired a new stake in shares of Frequency Electronics during the 3rd quarter worth about $803,000. Navellier & Associates Inc. purchased a new stake in Frequency Electronics during the third quarter worth approximately $915,000. Corsair Capital Management L.P. acquired a new position in Frequency Electronics in the second quarter valued at approximately $511,000. Finally, Thompson Davis & CO. Inc. boosted its holdings in Frequency Electronics by 82.9% in the second quarter. Thompson Davis & CO. Inc. now owns 25,985 shares of the communications equipment provider’s stock valued at $590,000 after purchasing an additional 11,775 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.