Frequency Electronics (NASDAQ:FEIM) Shares Up 14.1% - Still a Buy?

Key Points

• Frequency Electronics shares jumped 14.1% to $68.83, bringing the stock well above its 50-day and 200-day moving averages.
• Analyst opinions are mixed but the overall consensus is “Buy”; however, the average price target of $43.67 is substantially below the current share price.
• The company reported a quarterly loss of $0.50 per share and revenue of $15.4 million, missing estimates of $0.26 EPS and $18.57 million in revenue. Institutional investors own 58.6% of the stock.

Shares of Frequency Electronics, Inc. (NASDAQ:FEIM - Get Free Report) shot up 14.1% during trading on Tuesday . The company traded as high as $68.24 and last traded at $68.83. 123,402 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 226,788 shares. The stock had previously closed at $60.30.

Analysts Set New Price Targets

FEIM has been the topic of several recent research reports. Freedom Capital raised shares of Frequency Electronics from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 5th. Weiss Ratings lowered shares of Frequency Electronics from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, July 20th. Finally, Wall Street Zen raised shares of Frequency Electronics from a "strong sell" rating to a "sell" rating in a research note on Saturday, July 4th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $43.67.

Frequency Electronics Stock Up 16.5%

The business has a fifty day moving average of $67.05 and a 200 day moving average of $57.71. The firm has a market cap of $693.07 million, a P/E ratio of -780.87 and a beta of 0.73.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FEIM. Round Rock Advisors LLC increased its position in shares of Frequency Electronics by 152.5% in the 4th quarter. Round Rock Advisors LLC now owns 48,595 shares of the communications equipment provider's stock valued at $2,616,000 after buying an additional 29,347 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Frequency Electronics during the fourth quarter worth about $3,059,000. Villere ST Denis J & Co. LLC grew its stake in Frequency Electronics by 67.1% in the fourth quarter. Villere ST Denis J & Co. LLC now owns 24,896 shares of the communications equipment provider's stock valued at $1,340,000 after acquiring an additional 10,000 shares during the period. Kornitzer Capital Management Inc. KS acquired a new position in Frequency Electronics in the fourth quarter valued at about $1,081,000. Finally, Sowell Financial Services LLC bought a new stake in shares of Frequency Electronics in the fourth quarter worth about $3,406,000. Institutional investors own 58.60% of the company's stock.

About Frequency Electronics

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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