Frequency Electronics (NASDAQ:FEIM) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Frequency Electronics stock price surged above its two hundred day moving average, reaching as high as $29.53 before last trading at $27.87.
• Wall Street analysts downgraded Frequency Electronics from a "buy" to a "hold" rating amid evolving market conditions.
• The company reported quarterly earnings of $0.34 per share with a revenue of $19.99 million and maintains a solid return on equity of 53.83%.

Frequency Electronics, Inc. (NASDAQ:FEIM - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $18.22 and traded as high as $29.53. Frequency Electronics shares last traded at $27.87, with a volume of 613,377 shares.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Frequency Electronics from a "buy" rating to a "hold" rating in a report on Friday, July 18th.

Frequency Electronics Trading Down 0.4%

The business has a 50 day moving average price of $21.10 and a 200-day moving average price of $18.22. The firm has a market capitalization of $271.18 million, a PE ratio of 11.28 and a beta of 0.47.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) last released its quarterly earnings data on Thursday, July 10th. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter. The firm had revenue of $19.99 million during the quarter. Frequency Electronics had a return on equity of 53.83% and a net margin of 34.09%.

Institutional Trading of Frequency Electronics

A number of institutional investors have recently added to or reduced their stakes in FEIM. Farther Finance Advisors LLC acquired a new stake in shares of Frequency Electronics during the 2nd quarter valued at approximately $25,000. JPMorgan Chase & Co. increased its stake in Frequency Electronics by 373.6% in the 4th quarter. JPMorgan Chase & Co. now owns 6,161 shares of the communications equipment provider's stock valued at $114,000 after purchasing an additional 4,860 shares in the last quarter. IFP Advisors Inc raised its holdings in Frequency Electronics by 67.4% during the first quarter. IFP Advisors Inc now owns 7,700 shares of the communications equipment provider's stock worth $121,000 after purchasing an additional 3,100 shares during the last quarter. Ritholtz Wealth Management purchased a new stake in Frequency Electronics during the second quarter worth $232,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in Frequency Electronics during the first quarter worth $180,000. Hedge funds and other institutional investors own 58.60% of the company's stock.

Frequency Electronics Company Profile

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.

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