Frequency Electronics (NASDAQ:FEIM) Trading 8% Higher - What's Next?

Key Points

• Frequency Electronics shares rose 8% on Tuesday, trading as high as $59.01 after closing at $54.50 the previous day, with volume slightly below the average session level.
• Analysts have been mixed but generally positive on FEIM: the stock now carries a consensus Buy rating and an average price target of $43.67, though recent updates included both upgrades and a hold rating.
• Institutional investors have been increasing their exposure, with several firms making large additions and institutions now owning 58.60% of the company’s stock.

Frequency Electronics, Inc. (NASDAQ:FEIM - Get Free Report) shares shot up 8% on Tuesday . The company traded as high as $59.01 and last traded at $58.87. Approximately 184,327 shares changed hands during trading, a decline of 4% from the average session volume of 191,376 shares. The stock had previously closed at $54.50.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on FEIM shares. Wall Street Zen upgraded Frequency Electronics from a "strong sell" rating to a "sell" rating in a research note on Saturday, July 4th. Weiss Ratings reissued a "hold (c+)" rating on shares of Frequency Electronics in a report on Monday, June 15th. Finally, Freedom Capital upgraded Frequency Electronics from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $43.67.

Frequency Electronics Trading Up 8.2%

The company's 50 day moving average price is $65.59 and its two-hundred day moving average price is $56.73. The firm has a market cap of $580.14 million, a PE ratio of 78.59 and a beta of 0.71.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FEIM. Invesco Ltd. bought a new position in shares of Frequency Electronics in the fourth quarter worth approximately $9,446,000. Next Century Growth Investors LLC lifted its stake in shares of Frequency Electronics by 200.4% during the 4th quarter. Next Century Growth Investors LLC now owns 219,463 shares of the communications equipment provider's stock valued at $11,816,000 after buying an additional 146,397 shares in the last quarter. Millennium Management LLC boosted its holdings in Frequency Electronics by 403.6% in the 3rd quarter. Millennium Management LLC now owns 136,976 shares of the communications equipment provider's stock worth $4,645,000 after buying an additional 109,776 shares during the period. Two Sigma Investments LP boosted its holdings in Frequency Electronics by 179.4% in the 3rd quarter. Two Sigma Investments LP now owns 139,687 shares of the communications equipment provider's stock worth $4,737,000 after buying an additional 89,698 shares during the period. Finally, UBS Group AG increased its stake in Frequency Electronics by 63.8% in the 3rd quarter. UBS Group AG now owns 208,334 shares of the communications equipment provider's stock worth $7,065,000 after buying an additional 81,165 shares in the last quarter. 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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