Frequency Electronics (NASDAQ:FEIM) Coverage Initiated at Craig Hallum

Key Points

• Craig Hallum has initiated coverage of Frequency Electronics (NASDAQ:FEIM) with a "buy" rating and a price target of $43.00, suggesting a potential upside of 57.34% from the current price.
• Frequency Electronics reported earnings of $0.07 per share for the last quarter, missing the consensus estimate of $0.36 significantly, with revenues also falling short at $13.81 million.
• Recent institutional activity has increased stakes in Frequency Electronics, with notable investments from several firms, reflecting growing interest in the company.

Research analysts at Craig Hallum began coverage on shares of Frequency Electronics (NASDAQ:FEIM - Get Free Report) in a research note issued on Thursday, MarketBeat reports. The firm set a "buy" rating and a $43.00 price target on the communications equipment provider's stock. Craig Hallum's price objective indicates a potential upside of 41.26% from the stock's current price.

Separately, Wall Street Zen raised Frequency Electronics from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $43.00.

Frequency Electronics Trading Down 1.0%

Frequency Electronics stock traded down $0.30 during mid-day trading on Thursday, hitting $30.44. The company had a trading volume of 98,328 shares, compared to its average volume of 196,571. Frequency Electronics has a 12-month low of $11.71 and a 12-month high of $34.84. The company's fifty day moving average is $28.49 and its 200-day moving average is $21.82. The company has a market capitalization of $296.79 million, a price-to-earnings ratio of 13.17 and a beta of 0.50.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) last released its quarterly earnings data 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). Frequency Electronics had a return on equity of 44.02% and a net margin of 32.10%.The company had revenue of $13.81 million during the quarter, compared to analysts' expectations of $16.53 million. During the same quarter in the prior year, the company posted $0.25 EPS.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FEIM. Northern Trust Corp increased its position in 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 buying an additional 2,008 shares during the period. Jane Street Group LLC acquired a new position in Frequency Electronics during the fourth quarter worth approximately $402,000. Citadel Advisors LLC acquired a new position in Frequency Electronics during the fourth quarter worth approximately $727,000. Millennium Management LLC increased its position in Frequency Electronics by 37.7% during the fourth quarter. Millennium Management LLC now owns 29,622 shares of the communications equipment provider's stock worth $549,000 after buying an additional 8,116 shares during the period. Finally, Two Sigma Investments LP increased its position in Frequency Electronics by 109.4% during the fourth quarter. Two Sigma Investments LP now owns 71,644 shares of the communications equipment provider's stock worth $1,327,000 after buying an additional 37,438 shares during the period. Institutional investors and hedge funds own 58.60% of the company's stock.

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.