Frequency Electronics (NASDAQ:FEIM) Stock Crosses Below 200-Day Moving Average - Time to Sell?

Key Points

• Frequency Electronics shares fell below their 200-day moving average, touching $58.76 and last trading at $61.52, versus a 200-day average of $62.61.
• Analyst views are mixed: MarketBeat lists an average rating of “Moderate Buy” and an average price target of $59.67, below the last reported share price.
• The company’s latest quarterly results beat expectations, reporting EPS of $0.41 versus $0.15 forecast and revenue of $23.45 million versus $17.85 million expected.

Shares of Frequency Electronics, Inc. (NASDAQ:FEIM - Get Free Report) passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $62.61 and traded as low as $58.76. Frequency Electronics shares last traded at $61.52, with a volume of 363,751 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have issued reports on FEIM shares. Freedom Broker lowered shares of Frequency Electronics from a "buy" rating to a "hold" rating and raised their price target for the stock from $77.00 to $91.00 in a report on Monday, September 14th. Wall Street Zen raised shares of Frequency Electronics from a "hold" rating to a "buy" rating in a research note on Saturday, October 10th. Finally, Weiss Ratings lowered shares of Frequency Electronics from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, October 23rd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Frequency Electronics currently has an average rating of "Moderate Buy" and an average price target of $59.67.

Frequency Electronics Stock Performance

The company has a market capitalization of $693.33 million, a price-to-earnings ratio of 246.08 and a beta of 0.75. The business has a 50 day moving average price of $73.22 and a 200-day moving average price of $62.61.

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

Hedge Funds Weigh In On Frequency Electronics

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new position in Frequency Electronics during the second quarter worth $34,273,000. Prescott Group Capital Management L.L.C. bought a new stake in Frequency Electronics in the third quarter valued at $9,002,000. Sei Investments Co. increased its stake in Frequency Electronics by 93.1% in the first quarter. Sei Investments Co. now owns 91,706 shares of the communications equipment provider's stock valued at $4,059,000 after purchasing an additional 44,218 shares in the last quarter. Raiffeisen Bank International AG raised its holdings in shares of Frequency Electronics by 350.0% during the second quarter. Raiffeisen Bank International AG now owns 54,000 shares of the communications equipment provider's stock valued at $3,336,000 after purchasing an additional 42,000 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of Frequency Electronics during the second quarter valued at about $2,155,000. 58.60% of the stock is currently owned by institutional investors.

Frequency Electronics Company Profile

Frequency Electronics, Inc NASDAQ: FEIM develops and manufactures precision timing and frequency-control products for demanding communications, aerospace, defense and commercial applications. Its technologies are designed to generate, stabilize and distribute highly accurate timing signals used by electronic systems and networks.

The company's product portfolio includes crystal oscillators, frequency synthesizers, timing and synchronization systems, GPS/GNSS-disciplined timing products, atomic frequency references and related components.

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