Frequency Electronics (NASDAQ:FEIM) Lowered to "Sell" Rating by Wall Street Zen

Key Points

• Frequency Electronics has been downgraded from a "buy" rating to a "sell" rating by Wall Street Zen, reflecting a negative shift in analyst sentiment.
• The company's recent quarterly earnings reported a net loss of $0.29 per share against a consensus estimate of $0.36, alongside revenue missing expectations at $13.81 million.
• Institutional investors have significantly altered their stakes, with 58.60% of the company's stock now owned by institutional investors and hedge funds, indicating a noteworthy investment interest.

Wall Street Zen downgraded shares of Frequency Electronics (NASDAQ:FEIM - Free Report) from a buy rating to a sell rating in a report published on Sunday.

Several other equities research analysts have also recently issued reports on the stock. UBS Group set a $43.00 price objective on shares of Frequency Electronics in a research report on Thursday. Craig Hallum assumed coverage on shares of Frequency Electronics in a research report on Thursday, September 18th. They set a "buy" rating and a $43.00 price objective for the company. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $43.00.

Frequency Electronics Stock Down 0.4%

FEIM stock traded down $0.12 during midday trading on Friday, hitting $29.77. The company's stock had a trading volume of 154,577 shares, compared to its average volume of 196,859. Frequency Electronics has a 52-week low of $11.71 and a 52-week high of $34.84. The firm has a market capitalization of $290.26 million, a P/E ratio of 13.13 and a beta of 0.50. The firm has a 50-day simple moving average of $28.68 and a 200-day simple moving average of $21.92.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) last issued its quarterly earnings results on Thursday, September 11th. The communications equipment provider reported $0.07 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.29). The business had revenue of $13.81 million during the quarter, compared to analysts' expectations of $16.53 million. Frequency Electronics had a net margin of 32.10% and a return on equity of 44.02%. During the same period in the prior year, the business earned $0.25 EPS.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC acquired a new position in Frequency Electronics in the second quarter valued at $25,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Frequency Electronics during the second quarter worth about $30,000. First Trust Advisors LP increased its stake in shares of Frequency Electronics by 5.0% during the second quarter. First Trust Advisors LP now owns 27,856 shares of the communications equipment provider's stock worth $633,000 after acquiring an additional 1,321 shares during the period. Villere ST Denis J & Co. LLC increased its stake in shares of Frequency Electronics by 12.8% during the first quarter. Villere ST Denis J & Co. LLC now owns 14,896 shares of the communications equipment provider's stock worth $233,000 after acquiring an additional 1,696 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Frequency Electronics by 6.6% during the fourth quarter. Northern Trust Corp now owns 32,630 shares of the communications equipment provider's stock worth $604,000 after acquiring an additional 2,008 shares during the period. 58.60% of the stock is currently owned by institutional investors and hedge funds.

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.