Frequency Electronics, Inc. (NASDAQ:FEIM) Short Interest Update

Key Points

• Short interest jumped 22.7% in March to 860,152 shares (about 12.1% of shares sold short) with a short‑interest ratio of 4.0 days.
• Frequency Electronics missed quarterly estimates, reporting $0.16 EPS vs. $0.30 expected and $16.89M in revenue vs. a $19.06M consensus.
• Shares traded at $58.70 (near a 12‑month high of $61.47) giving a market cap of $577.6M, while analysts’ average rating is “Moderate Buy” with an average price target of $43.67.

Frequency Electronics, Inc. (NASDAQ:FEIM - Get Free Report) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totaling 860,152 shares, a growth of 22.7% from the March 15th total of 701,015 shares. Based on an average trading volume of 216,205 shares, the short-interest ratio is presently 4.0 days. Currently, 12.1% of the company's shares are sold short.

Frequency Electronics Price Performance

Shares of NASDAQ FEIM traded up $1.91 during midday trading on Thursday, reaching $58.70. 106,112 shares of the stock were exchanged, compared to its average volume of 196,186. The business has a 50-day simple moving average of $49.54 and a two-hundred day simple moving average of $44.53. The company has a market capitalization of $577.61 million, a price-to-earnings ratio of 78.27 and a beta of 0.45. Frequency Electronics has a 12 month low of $16.50 and a 12 month high of $61.47.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) last announced its quarterly earnings results on Wednesday, March 11th. The communications equipment provider reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.14). The firm had revenue of $16.89 million for the quarter, compared to the consensus estimate of $19.06 million. Frequency Electronics had a return on equity of 12.69% and a net margin of 10.78%.

Analyst Upgrades and Downgrades

A number of analysts have commented on FEIM shares. Wall Street Zen raised shares of Frequency Electronics from a "strong sell" rating to a "sell" rating in a report on Saturday, April 11th. Weiss Ratings lowered shares of Frequency Electronics from a "buy (b+)" rating to a "hold (c+)" rating in a report on Wednesday, March 18th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Frequency Electronics has an average rating of "Moderate Buy" and an average price target of $43.67.

Institutional Investors Weigh In On Frequency Electronics

Several institutional investors have recently added to or reduced their stakes in the stock. Segall Bryant & Hamill LLC bought a new stake in Frequency Electronics during the 3rd quarter worth about $10,425,000. Portolan Capital Management LLC bought a new stake in Frequency Electronics during the 3rd quarter worth about $6,912,000. Invesco Ltd. bought a new stake in Frequency Electronics during the 4th quarter worth about $9,446,000. Next Century Growth Investors LLC lifted its position in Frequency Electronics by 200.4% during the 4th quarter. Next Century Growth Investors LLC now owns 219,463 shares of the communications equipment provider's stock worth $11,816,000 after buying an additional 146,397 shares in the last quarter. Finally, Millennium Management LLC lifted its position in Frequency Electronics by 403.6% during the 3rd quarter. Millennium Management LLC now owns 136,976 shares of the communications equipment provider's stock worth $4,645,000 after buying an additional 109,776 shares in the last quarter. 58.60% of the stock is owned by institutional investors.

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.

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