Frequency Electronics (NASDAQ:FEIM) Stock Price Up 5.5% – Time to Buy?

Frequency Electronics, Inc. (NASDAQ:FEIM)’s share price was up 5.5% on Friday. The stock traded as high as $88.50 and last traded at $89.16. 118,473 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 242,677 shares. The stock had previously closed at $84.54.

Analyst Ratings Changes

FEIM has been the subject of several research reports. Wall Street Zen upgraded shares of Frequency Electronics from a “sell” rating to a “hold” rating in a research report on Saturday, September 12th. Weiss Ratings raised shares of Frequency Electronics from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Wednesday, September 16th. Finally, Freedom Broker downgraded shares of Frequency Electronics from a “buy” rating to a “hold” rating and boosted their price objective for the company from $77.00 to $91.00 in a research report on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Frequency Electronics has a consensus rating of “Moderate Buy” and a consensus price target of $59.67.

Frequency Electronics Trading Up 5.6%

The stock has a fifty day moving average price of $70.70 and a 200 day moving average price of $62.98. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 356.70 and a beta of 0.72.

Frequency Electronics (NASDAQ:FEIM) last released its quarterly earnings results on Thursday, September 10th. The communications equipment provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.26. The company had revenue of $23.45 million for the quarter, compared to analyst estimates of $17.85 million. Frequency Electronics had a net margin of 3.68% and a return on equity of 3.63%.

Institutional Investors Weigh In On Frequency Electronics

Institutional investors and hedge funds have recently made changes to their positions in the company. State of Wyoming acquired a new position in shares of Frequency Electronics in the second quarter valued at approximately $63,000. Legal & General Group Plc bought a new position in shares of Frequency Electronics during the 2nd quarter worth approximately $106,000. IFP Advisors Inc grew its position in shares of Frequency Electronics by 46.0% in the second quarter. IFP Advisors Inc now owns 1,905 shares of the communications equipment provider’s stock valued at $126,000 after purchasing an additional 600 shares during the last quarter. XML Financial LLC raised its stake in Frequency Electronics by 12.6% in the 1st quarter. XML Financial LLC now owns 6,500 shares of the communications equipment provider’s stock worth $288,000 after purchasing an additional 725 shares in the last quarter. Finally, Moors & Cabot Inc. bought a new position in Frequency Electronics during the 4th quarter worth $312,000. Institutional investors own 58.60% of the company’s stock.

About Frequency Electronics

Frequency Electronics, Inc (NASDAQ: FEIM) designs and manufactures precision time and frequency control systems. Its products include crystal oscillators, atomic frequency references, frequency synthesizers, timing systems and related radio-frequency and microwave technologies used where accurate and stable timing is essential.

The company serves aerospace and defense, satellite communications, telecommunications, navigation and other government and commercial markets. Its equipment is used in applications such as satellite payloads, secure communications, avionics, radar, electronic warfare and global positioning and navigation systems.

Founded in 1961, Frequency Electronics is based in New York and has developed specialized timing and synchronization technologies for customers in the United States and international markets.