Frequency Electronics, Inc. (NASDAQ:FEIM) Sees Large Increase in Short Interest

Frequency Electronics, Inc. (NASDAQ:FEIM - Get Free Report) was the recipient of a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 101,000 shares, an increase of 494.1% from the May 15th total of 17,000 shares. Approximately 1.2% of the shares of the company are sold short. Based on an average daily volume of 94,500 shares, the short-interest ratio is presently 1.1 days.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Frequency Electronics from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th.

Insider Buying and Selling

In other news, Director Russell M. Sarachek acquired 2,161 shares of the business's stock in a transaction on Thursday, March 27th. The stock was bought at an average price of $15.77 per share, for a total transaction of $34,078.97. Following the transaction, the director now owns 464,080 shares in the company, valued at $7,318,541.60. This represents a 0.47% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 26.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Frequency Electronics

Hedge funds have recently added to or reduced their stakes in the business. Global Retirement Partners LLC purchased a new position in Frequency Electronics during the 4th quarter valued at about $27,000. IFP Advisors Inc acquired a new stake in shares of Frequency Electronics during the 4th quarter worth about $85,000. JPMorgan Chase & Co. boosted its stake in shares of Frequency Electronics by 373.6% during the 4th quarter. JPMorgan Chase & Co. now owns 6,161 shares of the communications equipment provider's stock worth $114,000 after purchasing an additional 4,860 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in shares of Frequency Electronics during the 1st quarter worth about $180,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Frequency Electronics during the 1st quarter worth about $183,000. 58.60% of the stock is currently owned by hedge funds and other institutional investors.

Frequency Electronics Trading Down 0.3%

Shares of FEIM traded down $0.05 during trading hours on Friday, reaching $18.43. The company had a trading volume of 79,715 shares, compared to its average volume of 79,330. The firm has a 50 day simple moving average of $18.01 and a 200-day simple moving average of $16.98. The company has a market capitalization of $178.35 million, a price-to-earnings ratio of 22.48 and a beta of 0.43. Frequency Electronics has a 12-month low of $8.62 and a 12-month high of $21.00.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) last announced its quarterly earnings results on Thursday, March 13th. The communications equipment provider reported $1.60 earnings per share (EPS) for the quarter. The business had revenue of $18.93 million during the quarter. Frequency Electronics had a net margin of 13.02% and a return on equity of 21.49%.

About Frequency Electronics

Frequency Electronics, Inc, together with its subsidiaries, engages in designing, development, and manufacturing of precision time and frequency control products and components for microwave integrated circuit applications. It operates through two segments, FEI-NY and FEI-Zyfer. The FEI-NY segment offers precision time and frequency control products for communication satellites, terrestrial cellular telephone or other ground-based telecommunication stations; and other components and systems for the U.S.