Frequency Electronics (NASDAQ:FEIM) Sees Large Volume Increase - Here's Why

Key Points

• Trading volume surged 214% to approximately 665,685 shares, while Frequency Electronics shares last traded at $60.62 versus a prior close of $66.46.
• Analyst sentiment is broadly positive, with a consensus “Buy” rating and a $43.67 price target, despite mixed recent rating changes.
• The company reported a quarterly loss of $0.50 per share, missing the $0.26 consensus estimate, while revenue of $15.4 million fell short of expectations of $18.57 million.

Shares of Frequency Electronics, Inc. (NASDAQ:FEIM - Get Free Report) saw strong trading volume on Wednesday . Approximately 665,685 shares traded hands during mid-day trading, an increase of 214% from the previous session's volume of 211,819 shares.The stock last traded at $60.6170 and had previously closed at $66.46.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Freedom Capital upgraded Frequency Electronics from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 5th. Weiss Ratings cut Frequency Electronics from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, July 20th. Finally, Wall Street Zen upgraded shares of Frequency Electronics from a "strong sell" rating to a "sell" rating in a research note on Saturday, July 4th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $43.67.

Frequency Electronics Price Performance

The company has a market capitalization of $569.54 million, a P/E ratio of -646.44 and a beta of 0.71. The company has a fifty day moving average price of $67.44 and a 200 day moving average price of $57.71.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 15th. The communications equipment provider reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.76). Frequency Electronics had a negative return on equity of 1.56% and a negative net margin of 1.43%.The company had revenue of $15.40 million during the quarter, compared to the consensus estimate of $18.57 million.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Flagship Harbor Advisors LLC acquired a new position in shares of Frequency Electronics during the 4th quarter valued at $26,000. Kestra Advisory Services LLC acquired a new position in Frequency Electronics during the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd bought a new stake in Frequency Electronics in the third quarter worth about $25,000. State of Wyoming acquired a new stake in Frequency Electronics in the 4th quarter valued at about $49,000. Finally, Wexford Capital LP acquired a new stake in Frequency Electronics in the 3rd quarter valued at about $32,000. Institutional investors own 58.60% of the company's stock.

Frequency Electronics Company Profile

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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