Frequency Electronics (NASDAQ:FEIM) Given "Buy (B)" Rating at Weiss Ratings

Key Points

• Frequency Electronics (NASDAQ:FEIM) received a reaffirmed "Buy (B)" rating from Weiss Ratings, despite mixed signals from other analysts, including a downgrade to "sell" from Wall Street Zen.
• The stock is currently priced at $38.97, with a market capitalization of approximately $379.96 million and a 52-week high of $39.66.
• Frequency Electronics reported a disappointing quarterly earnings of $0.07 per share, significantly missing analysts' estimates of $0.36, with revenues also falling short of expectations.

Frequency Electronics (NASDAQ:FEIM - Get Free Report)'s stock had its "buy (b)" rating reaffirmed by equities research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

FEIM has been the topic of a number of other reports. Wall Street Zen lowered shares of Frequency Electronics from a "buy" rating to a "sell" rating in a report on Sunday, September 21st. UBS Group set a $43.00 target price on shares of Frequency Electronics in a report on Thursday, September 18th. Finally, Craig Hallum began coverage on shares of Frequency Electronics in a report on Thursday, September 18th. They set a "buy" rating and a $43.00 target price on the stock. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Frequency Electronics has an average rating of "Buy" and an average target price of $43.00.

Frequency Electronics Stock Performance

NASDAQ:FEIM opened at $38.97 on Wednesday. The stock has a market capitalization of $379.96 million, a P/E ratio of 17.02 and a beta of 0.51. The company has a 50 day moving average price of $30.94 and a 200 day moving average price of $23.35. Frequency Electronics has a fifty-two week low of $12.15 and a fifty-two week high of $39.66.

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

Institutional Investors Weigh In On Frequency Electronics

A number of hedge funds and other institutional investors have recently modified their holdings of FEIM. Farther Finance Advisors LLC acquired a new stake in shares of Frequency Electronics in the 2nd quarter valued at $25,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Frequency Electronics in the 2nd quarter valued at $30,000. Bank of America Corp DE raised its stake in Frequency Electronics by 3,558.9% during the 2nd quarter. Bank of America Corp DE now owns 2,671 shares of the communications equipment provider's stock worth $61,000 after acquiring an additional 2,598 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Frequency Electronics during the 2nd quarter worth $82,000. Finally, Lazard Asset Management LLC raised its stake in Frequency Electronics by 10,807.7% during the 2nd quarter. Lazard Asset Management LLC now owns 4,254 shares of the communications equipment provider's stock worth $96,000 after acquiring an additional 4,215 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.