Frequency Electronics (NASDAQ:FEIM) Shares Down 8.5% – What’s Next?

Frequency Electronics, Inc. (NASDAQ:FEIM)’s stock price was down 8.5% during trading on Wednesday . The stock traded as low as $57.02 and last traded at $56.9240. 144,720 shares traded hands during trading, a decline of 24% from the average session volume of 190,412 shares. The stock had previously closed at $62.22.

Analyst Upgrades and Downgrades

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

Frequency Electronics Price Performance

The firm’s 50-day moving average price is $64.88 and its 200 day moving average price is $56.51. The firm has a market capitalization of $568.13 million, a price-to-earnings ratio of 77.06 and a beta of 0.71.

Hedge Funds Weigh In On Frequency Electronics

Institutional investors have recently made changes to their positions in the stock. Portolan Capital Management LLC purchased a new position in Frequency Electronics in the 3rd quarter valued at about $6,912,000. Invesco Ltd. acquired a new position in shares of Frequency Electronics in the fourth quarter valued at approximately $9,446,000. Next Century Growth Investors LLC raised its position in shares of Frequency Electronics by 200.4% in the fourth quarter. Next Century Growth Investors LLC now owns 219,463 shares of the communications equipment provider’s stock valued at $11,816,000 after buying an additional 146,397 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Frequency Electronics by 403.6% during the third quarter. Millennium Management LLC now owns 136,976 shares of the communications equipment provider’s stock valued at $4,645,000 after buying an additional 109,776 shares during the period. Finally, Two Sigma Investments LP lifted its stake in shares of Frequency Electronics by 179.4% during the third quarter. Two Sigma Investments LP now owns 139,687 shares of the communications equipment provider’s stock valued at $4,737,000 after buying an additional 89,698 shares during the period. 58.60% of the stock is 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.