Frequency Electronics (NASDAQ:FEIM) Shares Break Above Two Hundred Day Moving Average - What's Next?

Key Points

• Frequency Electronics shares briefly broke above their 200-day moving average, reaching $67.84 versus the $66.82 average, before last trading at $65.12.
• Analyst sentiment is broadly positive, with an average rating of “Buy”; however, the consensus price target of $59.67 is below the latest share price.
• The company exceeded quarterly expectations, reporting adjusted EPS of $0.41 versus the $0.15 estimate and revenue of $23.45 million versus the $17.85 million consensus.

Frequency Electronics, Inc. (NASDAQ:FEIM - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $66.82 and traded as high as $67.84. Frequency Electronics shares last traded at $65.12, with a volume of 278,436 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on FEIM shares. Wall Street Zen upgraded Frequency Electronics from a "hold" rating to a "buy" rating in a research note on Saturday, October 10th. Freedom Broker downgraded Frequency Electronics from a "buy" rating to a "hold" rating and increased their price target for the stock from $77.00 to $91.00 in a research report on Monday, September 14th. Finally, Weiss Ratings upgraded Frequency Electronics from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $59.67.

Frequency Electronics Stock Performance

The business's 50 day moving average is $73.96 and its 200-day moving average is $66.82. The stock has a market cap of $733.90 million, a price-to-earnings ratio of 260.48 and a beta of 0.65.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) last issued its quarterly earnings results on Thursday, September 10th. The communications equipment provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.15 by $0.26. The company had revenue of $23.45 million during the quarter, compared to analyst estimates of $17.85 million. Frequency Electronics had a net margin of 3.68% and a return on equity of 3.63%.

Institutional Trading of Frequency Electronics

Institutional investors and hedge funds have recently modified their holdings of the stock. Navellier & Associates Inc. raised its holdings in shares of Frequency Electronics by 161.2% during the second quarter. Navellier & Associates Inc. now owns 30,095 shares of the communications equipment provider's stock valued at $1,997,000 after acquiring an additional 18,575 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Frequency Electronics in the second quarter valued at approximately $1,552,000. Raiffeisen Bank International AG boosted its stake in shares of Frequency Electronics by 350.0% in the second quarter. Raiffeisen Bank International AG now owns 54,000 shares of the communications equipment provider's stock worth $3,336,000 after acquiring an additional 42,000 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Frequency Electronics in the second quarter worth approximately $34,273,000. Finally, Sei Investments Co. boosted its stake in shares of Frequency Electronics by 93.1% in the first quarter. Sei Investments Co. now owns 91,706 shares of the communications equipment provider's stock worth $4,059,000 after acquiring an additional 44,218 shares during the last quarter. Hedge funds and other institutional investors own 58.60% of the company's stock.

Frequency Electronics Company Profile

Frequency Electronics, Inc NASDAQ: FEIM designs and manufactures precision timing, frequency-control and synchronization products. Its technologies are used to generate, stabilize and distribute highly accurate timing signals for systems that require reliable frequency performance.

The company's products include crystal oscillators, atomic frequency standards, frequency synthesizers, GPS- and GNSS-disciplined timing devices, and time-and-frequency distribution systems. These products support applications in aerospace and defense, satellite communications, telecommunications, and other commercial and industrial markets.

Founded in 1961, Frequency Electronics serves customers in the United States and international markets.

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