Frequency Electronics (NASDAQ:FEIM) Trading Down 7.1% – Time to Sell?

Shares of Frequency Electronics, Inc. (NASDAQ:FEIM) dropped 7.1% on Thursday . The stock traded as low as $62.68 and last traded at $62.4640. 274,590 shares traded hands during mid-day trading, an increase of 47% from the average daily volume of 186,316 shares. The stock had previously closed at $67.27.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Freedom Capital upgraded Frequency Electronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Frequency Electronics in a report on Monday, June 15th. Finally, Wall Street Zen upgraded shares of Frequency Electronics from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 11th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $43.67.

Frequency Electronics Price Performance

The firm has a market capitalization of $614.60 million, a price-to-earnings ratio of 83.21 and a beta of 0.67. The business’s fifty day simple moving average is $63.33 and its 200 day simple moving average is $54.92.

Institutional Trading of Frequency Electronics

Several large investors have recently made changes to their positions in the company. Bank of America Corp DE increased its position in Frequency Electronics by 53.1% in the 1st quarter. Bank of America Corp DE now owns 9,565 shares of the communications equipment provider’s stock valued at $423,000 after buying an additional 3,318 shares in the last quarter. Sei Investments Co. boosted its holdings 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 worth $4,059,000 after acquiring an additional 44,218 shares in the last quarter. First Trust Advisors LP grew its stake in Frequency Electronics by 0.9% in the first quarter. First Trust Advisors LP now owns 21,818 shares of the communications equipment provider’s stock valued at $966,000 after acquiring an additional 190 shares during the period. Dimensional Fund Advisors LP grew its stake in Frequency Electronics by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 257,402 shares of the communications equipment provider’s stock valued at $11,391,000 after acquiring an additional 6,948 shares during the period. Finally, Morgan Dempsey Capital Management LLC increased its holdings in shares of Frequency Electronics by 65.9% during the first quarter. Morgan Dempsey Capital Management LLC now owns 10,914 shares of the communications equipment provider’s stock valued at $483,000 after acquiring an additional 4,336 shares in the last quarter. 58.60% of the stock is currently owned by institutional investors and hedge funds.

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.