Frequency Electronics (NASDAQ:FEIM) Shares Gap Down - Here's What Happened

Key Points

• Frequency Electronics shares gapped down ahead of Monday’s trading, opening at $56.29 after closing at $61.07, and last traded around $56.65. The stock was down about 2.0% on the session.
• Analyst sentiment remains mixed: Weiss Ratings reiterated a hold, Freedom Capital upgraded the stock to strong-buy, and Wall Street Zen downgraded it from strong sell to sell. MarketBeat says the consensus rating is Buy with a target price of $43.67.
• The company, a maker of precision timing and frequency control products for telecom, aerospace, defense, and space markets, has a market cap of about $552.94 million. Institutional ownership is significant, with hedge funds and other investors holding 58.6% of the stock.

Shares of Frequency Electronics, Inc. (NASDAQ:FEIM - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $61.07, but opened at $56.29. Frequency Electronics shares last traded at $56.6510, with a volume of 7,436 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Weiss Ratings reiterated a "hold (c+)" rating on shares of Frequency Electronics in a report on Monday, June 15th. Freedom Capital upgraded Frequency Electronics from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 5th. Finally, Wall Street Zen raised Frequency Electronics from a "strong sell" rating to a "sell" rating in a research note on Saturday, July 4th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $43.67.

Frequency Electronics Trading Down 2.0%

The stock has a market capitalization of $552.94 million, a PE ratio of 74.76 and a beta of 0.71. The company's 50 day simple moving average is $65.50 and its 200 day simple moving average is $56.73.

Hedge Funds Weigh In On Frequency Electronics

Several institutional investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd acquired a new stake in Frequency Electronics in the 3rd quarter worth about $25,000. Flagship Harbor Advisors LLC purchased a new stake in Frequency Electronics in the fourth quarter valued at approximately $26,000. Kestra Advisory Services LLC acquired a new position in Frequency Electronics during the fourth quarter worth approximately $27,000. Wexford Capital LP purchased a new position in Frequency Electronics during the third quarter worth approximately $32,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Frequency Electronics by 130.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,291 shares of the communications equipment provider's stock valued at $44,000 after purchasing an additional 731 shares during the last quarter. 58.60% of the stock is currently owned by institutional investors and hedge funds.

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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