Frequency Electronics, Inc. (NASDAQ:FEIM) Short Interest Update
by Sarita Garza · The Markets DailyFrequency Electronics, Inc. (NASDAQ:FEIM – Get Free Report) was the recipient of a large growth in short interest in March. As of March 31st, there was short interest totaling 860,152 shares, a growth of 22.7% from the March 15th total of 701,015 shares. Based on an average daily trading volume, of 216,205 shares, the days-to-cover ratio is currently 4.0 days. Approximately 12.1% of the company’s stock are short sold.
Analyst Upgrades and Downgrades
FEIM has been the topic of several analyst reports. Wall Street Zen raised shares of Frequency Electronics from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 11th. Weiss Ratings cut shares of Frequency Electronics from a “buy (b+)” rating to a “hold (c+)” rating in a report on Wednesday, March 18th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.67.
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Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in FEIM. Caitong International Asset Management Co. Ltd acquired a new position in shares of Frequency Electronics during the 3rd quarter worth approximately $25,000. Flagship Harbor Advisors LLC acquired a new position in shares of Frequency Electronics during the 4th quarter worth approximately $26,000. Kestra Advisory Services LLC acquired a new position in shares of Frequency Electronics during the 4th quarter worth approximately $27,000. Wexford Capital LP acquired a new position in shares of Frequency Electronics during the 3rd quarter worth approximately $32,000. Finally, BNP Paribas Financial Markets grew its position in shares of Frequency Electronics by 130.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,291 shares of the communications equipment provider’s stock worth $44,000 after purchasing an additional 731 shares in the last quarter. Institutional investors and hedge funds own 58.60% of the company’s stock.
Frequency Electronics Stock Performance
FEIM traded up $1.91 on Thursday, reaching $58.70. The company had a trading volume of 106,112 shares, compared to its average volume of 196,186. Frequency Electronics has a fifty-two week low of $16.50 and a fifty-two week high of $61.47. The stock has a market cap of $577.61 million, a P/E ratio of 78.27 and a beta of 0.45. The company’s fifty day moving average is $49.54 and its 200 day moving average is $44.53.
Frequency Electronics (NASDAQ:FEIM – Get Free Report) last announced its quarterly earnings results on Wednesday, March 11th. The communications equipment provider reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.14). Frequency Electronics had a net margin of 10.78% and a return on equity of 12.69%. The company had revenue of $16.89 million during the quarter, compared to analyst estimates of $19.06 million.
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.