Frequency Electronics (NASDAQ:FEIM) Upgraded by Wall Street Zen to "Buy" Rating

Key Points

• Frequency Electronics has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, indicating positive sentiment from analysts.
• The company's quarterly earnings report revealed a missed earnings estimate with earnings per share at $0.07, significantly below the projected $0.36.
• Institutional investors own 58.60% of Frequency Electronics' stock, with notable increases in holdings from firms like Bank of America and Lazard Asset Management.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

Frequency Electronics Price Performance

Shares of FEIM traded up $3.49 during trading hours on Friday, reaching $30.82. 596,948 shares of the company's stock traded hands, compared to its average volume of 327,894. The firm has a market capitalization of $300.50 million, a price-to-earnings ratio of 13.46 and a beta of 0.50. Frequency Electronics has a twelve month low of $11.71 and a twelve month high of $34.84. The business's fifty day simple moving average is $28.27 and its two-hundred day simple moving average is $21.61.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) last issued its quarterly earnings results on Thursday, September 11th. The communications equipment provider reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.29). The business had revenue of $13.81 million for the quarter, compared to analyst estimates of $16.53 million. Frequency Electronics had a net margin of 32.10% and a return on equity of 44.02%. During the same period last year, the business posted $0.25 earnings per share.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Farther Finance Advisors LLC acquired a new stake in Frequency Electronics in the 2nd quarter valued at about $25,000. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Frequency Electronics during the 2nd quarter valued at about $30,000. First Trust Advisors LP boosted its position in shares of Frequency Electronics by 5.0% during the 2nd quarter. First Trust Advisors LP now owns 27,856 shares of the communications equipment provider's stock valued at $633,000 after purchasing an additional 1,321 shares in the last quarter. Villere ST Denis J & Co. LLC boosted its position in shares of Frequency Electronics by 12.8% during the 1st quarter. Villere ST Denis J & Co. LLC now owns 14,896 shares of the communications equipment provider's stock valued at $233,000 after purchasing an additional 1,696 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Frequency Electronics by 6.6% during the 4th quarter. Northern Trust Corp now owns 32,630 shares of the communications equipment provider's stock valued at $604,000 after purchasing an additional 2,008 shares in the last quarter. 58.60% of the stock is owned by institutional investors and hedge funds.

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.