Frequency Electronics (NASDAQ:FEIM) Stock Rating Lowered by Wall Street Zen

Frequency Electronics (NASDAQ:FEIM - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Friday.

Frequency Electronics Trading Up 0.8%

Shares of FEIM traded up $0.16 during mid-day trading on Friday, reaching $19.11. The company had a trading volume of 123,936 shares, compared to its average volume of 77,738. The stock has a market cap of $184.93 million, a price-to-earnings ratio of 23.31 and a beta of 0.38. The firm has a fifty day simple moving average of $17.68 and a 200-day simple moving average of $16.78. Frequency Electronics has a fifty-two week low of $8.62 and a fifty-two week high of $21.00.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) last announced its quarterly earnings results on Thursday, March 13th. The communications equipment provider reported $1.60 earnings per share for the quarter. The company had revenue of $18.93 million for the quarter. Frequency Electronics had a net margin of 13.02% and a return on equity of 21.49%.

Insider Buying and Selling at Frequency Electronics

In related news, Director Russell M. Sarachek purchased 2,161 shares of the firm's stock in a transaction on Thursday, March 27th. The shares were bought at an average price of $15.77 per share, for a total transaction of $34,078.97. Following the acquisition, the director now directly owns 464,080 shares in the company, valued at $7,318,541.60. This trade represents a 0.47% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. 26.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Frequency Electronics

A number of hedge funds have recently made changes to their positions in FEIM. Global Retirement Partners LLC purchased a new position in shares of Frequency Electronics in the 4th quarter valued at $27,000. IFP Advisors Inc purchased a new position in shares of Frequency Electronics in the 4th quarter valued at $85,000. JPMorgan Chase & Co. raised its stake in shares of 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 acquiring an additional 4,860 shares during the period. OMERS ADMINISTRATION Corp purchased a new position in shares of Frequency Electronics in the 1st quarter valued at $180,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Frequency Electronics in the 1st quarter valued at $183,000. Institutional investors and hedge funds own 58.60% of the company's stock.

About Frequency Electronics

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.