Frequency Electronics (NASDAQ:FEIM) Shares Pass Above 200-Day Moving Average - Here's What Happened

Key Points

• Frequency Electronics' stock crossed above its 200-day moving average, indicating potential bullish momentum, trading at $30.44 after reaching a high of $31.51.
• Wall Street analysts downgraded Frequency Electronics from a "buy" rating to a "hold" rating, reflecting a cautious outlook on the stock.
• Institutional investors own 58.60% of Frequency Electronics' stock, with significant recent acquisitions indicating increased interest in the company.

Shares of Frequency Electronics, Inc. (NASDAQ:FEIM - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $19.21 and traded as high as $31.51. Frequency Electronics shares last traded at $30.44, with a volume of 311,132 shares traded.

Wall Street Analyst Weigh In

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

Frequency Electronics Price Performance

The firm has a 50 day simple moving average of $23.79 and a 200-day simple moving average of $19.32. The company has a market cap of $299.39 million, a price-to-earnings ratio of 12.46 and a beta of 0.45.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) last posted its earnings results on Thursday, July 10th. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter. The company 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 Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC purchased a new position in shares of Frequency Electronics during the second quarter worth $25,000. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Frequency Electronics during the second quarter worth $30,000. Bank of America Corp DE boosted its position in shares of Frequency Electronics by 3,558.9% during the second quarter. Bank of America Corp DE now owns 2,671 shares of the communications equipment provider's stock worth $61,000 after buying an additional 2,598 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Frequency Electronics during the second quarter worth $82,000. Finally, Lazard Asset Management LLC boosted its position in shares of Frequency Electronics by 10,807.7% during the second quarter. Lazard Asset Management LLC now owns 4,254 shares of the communications equipment provider's stock worth $96,000 after buying an additional 4,215 shares during the period. 58.60% of the stock is currently owned by hedge funds and other institutional investors.

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.