Frequency Electronics (NASDAQ:FEIM) Shares Down 7.1% – Time to Sell?

Shares of Frequency Electronics, Inc. (NASDAQ:FEIM) fell 7.1% during trading on Thursday . The company traded as low as $62.68 and last traded at $62.4640. Approximately 274,590 shares were traded during mid-day trading, an increase of 47% from the average daily volume of 186,316 shares. The stock had previously closed at $67.27.

Analyst Ratings Changes

FEIM has been the topic of several research reports. Freedom Capital raised shares of Frequency Electronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Wall Street Zen raised shares of Frequency Electronics from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 11th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Frequency Electronics in a research report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Frequency Electronics presently has a consensus rating of “Buy” and an average target price of $43.67.

Frequency Electronics Price Performance

The stock has a market capitalization of $614.60 million, a P/E ratio of 83.21 and a beta of 0.67. The firm has a 50-day simple moving average of $63.33 and a 200 day simple moving average of $54.92.

Institutional Investors Weigh In On Frequency Electronics

Several hedge funds have recently added to or reduced their stakes in FEIM. Round Rock Advisors LLC raised its stake in shares of Frequency Electronics by 152.5% during the fourth quarter. Round Rock Advisors LLC now owns 48,595 shares of the communications equipment provider’s stock valued at $2,616,000 after acquiring an additional 29,347 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Frequency Electronics in the fourth quarter worth $3,059,000. Villere ST Denis J & Co. LLC grew its stake in shares of Frequency Electronics by 67.1% in the fourth quarter. Villere ST Denis J & Co. LLC now owns 24,896 shares of the communications equipment provider’s stock worth $1,340,000 after purchasing an additional 10,000 shares during the last quarter. Portolan Capital Management LLC acquired a new stake in Frequency Electronics in the third quarter valued at $6,912,000. Finally, Kornitzer Capital Management Inc. KS acquired a new stake in Frequency Electronics in the fourth quarter valued at $1,081,000. 58.60% of the stock is currently owned by institutional investors and hedge funds.

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.