Frequency Electronics (NASDAQ:FEIM) Downgraded to Sell Rating by Wall Street Zen

Frequency Electronics (NASDAQ:FEIM) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “sell” rating in a research report issued to clients and investors on Sunday.

FEIM has been the subject of a number of other reports. Craig Hallum started coverage on Frequency Electronics in a research report on Thursday. They set a “buy” rating and a $43.00 price objective for the company. UBS Group set a $43.00 target price on Frequency Electronics in a report on Thursday. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $43.00.

Frequency Electronics Stock Down 0.3%

NASDAQ FEIM opened at $30.74 on Friday. The company has a 50 day moving average price of $28.49 and a 200 day moving average price of $21.77. The firm has a market cap of $299.72 million, a PE ratio of 13.42 and a beta of 0.50. Frequency Electronics has a 52 week low of $11.71 and a 52 week high of $34.84.

Frequency Electronics (NASDAQ:FEIM) last released its quarterly earnings results on Thursday, September 11th. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.29). Frequency Electronics had a net margin of 32.10% and a return on equity of 44.02%. The company had revenue of $13.81 million during the quarter, compared to analysts’ expectations of $16.53 million. During the same period last year, the firm posted $0.25 earnings per share.

Institutional Investors Weigh In On Frequency Electronics

Several large investors have recently made changes to their positions in FEIM. Thompson Davis & CO. Inc. grew its position in shares of Frequency Electronics by 72.3% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 24,485 shares of the communications equipment provider’s stock worth $556,000 after buying an additional 10,275 shares during the period. Militia Capital Partners LP bought a new stake in shares of Frequency Electronics in the second quarter valued at about $677,000. Lazard Asset Management LLC increased its holdings in Frequency Electronics by 10,807.7% in the 2nd quarter. Lazard Asset Management LLC now owns 4,254 shares of the communications equipment provider’s stock worth $96,000 after buying an additional 4,215 shares during the period. Bank of America Corp DE boosted its position in Frequency Electronics by 3,558.9% during the second quarter. Bank of America Corp DE now owns 2,671 shares of the communications equipment provider’s stock worth $61,000 after acquiring an additional 2,598 shares during the last quarter. Finally, Ameriprise Financial Inc. purchased a new stake in Frequency Electronics during the second quarter worth about $409,000. Institutional investors and hedge funds own 58.60% of the company’s stock.

Frequency Electronics Company Profile

Frequency Electronics, Inc, together with its subsidiaries, engages in designing, development, and manufacturing of precision time and frequency control products and components for microwave integrated circuit applications. It operates through two segments, FEI-NY and FEI-Zyfer. The FEI-NY segment offers precision time and frequency control products for communication satellites, terrestrial cellular telephone or other ground-based telecommunication stations; and other components and systems for the U.S.