Frequency Electronics (NASDAQ:FEIM) Upgraded to “Hold” at Wall Street Zen

Frequency Electronics (NASDAQ:FEIM) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Several other research analysts also recently weighed in on FEIM. Weiss Ratings reiterated a “buy (b)” rating on shares of Frequency Electronics in a research note on Wednesday, October 8th. UBS Group set a $43.00 price target on Frequency Electronics in a report on Thursday, September 18th. Finally, Craig Hallum assumed coverage on shares of Frequency Electronics in a research note on Thursday, September 18th. They issued a “buy” rating and a $43.00 price objective on the stock. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $43.00.

Frequency Electronics Stock Performance

NASDAQ FEIM opened at $31.32 on Friday. The firm’s fifty day moving average is $33.05 and its two-hundred day moving average is $27.94. Frequency Electronics has a one year low of $12.70 and a one year high of $41.12. The firm has a market cap of $305.37 million, a PE ratio of 13.68 and a beta of 0.46.

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

Hedge Funds Weigh In On Frequency Electronics

Hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC purchased a new stake in shares of Frequency Electronics in the second quarter valued at $25,000. Caitong International Asset Management Co. Ltd acquired a new position in Frequency Electronics in the 3rd quarter valued at about $25,000. Police & Firemen s Retirement System of New Jersey purchased a new position in Frequency Electronics in the 2nd quarter valued at about $30,000. Wexford Capital LP purchased a new position in Frequency Electronics in the 3rd quarter valued at about $32,000. Finally, BNP Paribas Financial Markets boosted its stake 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 during the last quarter. 58.60% of the stock is currently owned by hedge funds and other institutional investors.

About Frequency Electronics

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.