Frequency Electronics (NASDAQ:FEIM) Reaches New 52-Week High – Here’s Why

Frequency Electronics, Inc. (NASDAQ:FEIM)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $80.60 and last traded at $80.3150, with a volume of 30706 shares trading hands. The stock had previously closed at $78.31.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on FEIM shares. Weiss Ratings cut shares of Frequency Electronics from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, July 20th. Freedom Capital raised shares of Frequency Electronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Finally, Wall Street Zen upgraded shares of 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 issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $43.67.

Frequency Electronics Stock Performance

The stock has a 50-day moving average price of $67.30 and a two-hundred day moving average price of $58.57. The stock has a market capitalization of $772.52 million, a PE ratio of -869.67 and a beta of 0.73.

Frequency Electronics (NASDAQ:FEIM) last released its 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). Frequency Electronics had a negative return on equity of 1.56% and a negative net margin of 1.43%.The firm had revenue of $15.40 million during the quarter, compared to analysts’ expectations of $18.57 million.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. BlackRock Inc. bought a new position in Frequency Electronics in the 2nd quarter worth $34,273,000. Deutsche Bank AG bought a new stake in Frequency Electronics during the second quarter valued at about $450,000. Bank of New York Mellon Corp bought a new stake in Frequency Electronics during the second quarter valued at about $2,155,000. State of Wyoming purchased a new position in shares of Frequency Electronics in the second quarter valued at about $63,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Frequency Electronics in the second quarter valued at about $1,552,000. Hedge funds and other institutional investors own 58.60% of the company’s stock.

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.