Frequency Electronics, Inc. (NASDAQ:FEIM) Sees Large Increase in Short Interest

Frequency Electronics, Inc. (NASDAQ:FEIM) was the recipient of a significant increase in short interest in February. As of February 27th, there was short interest totaling 650,355 shares, an increase of 16.8% from the February 12th total of 556,913 shares. Based on an average daily volume of 134,735 shares, the days-to-cover ratio is presently 4.8 days. Currently, 9.2% of the shares of the stock are sold short. Currently, 9.2% of the shares of the stock are sold short. Based on an average daily volume of 134,735 shares, the days-to-cover ratio is presently 4.8 days.

Analysts Set New Price Targets

FEIM has been the subject of several research reports. Wall Street Zen lowered shares of Frequency Electronics from a “hold” rating to a “sell” rating in a research report on Sunday, December 14th. Craig Hallum restated a “buy” rating and set a $46.00 target price on shares of Frequency Electronics in a research report on Friday, December 12th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Frequency Electronics in a report on Monday, December 29th. Finally, Loop Capital set a $42.00 price target on Frequency Electronics in a research report on Tuesday, December 16th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $43.67.

Hedge Funds Weigh In On Frequency Electronics

Several hedge funds have recently bought and sold shares of FEIM. Flagship Harbor Advisors LLC purchased a new stake in shares of Frequency Electronics in the fourth quarter valued at approximately $26,000. Kestra Advisory Services LLC bought a new stake in Frequency Electronics during the fourth quarter valued at about $27,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Frequency Electronics in the 3rd quarter valued at about $25,000. State of Wyoming purchased a new position in Frequency Electronics in the fourth quarter worth $49,000. Finally, Wexford Capital LP purchased a new position in Frequency Electronics during the 3rd quarter worth $32,000. Institutional investors own 58.60% of the company’s stock.

Frequency Electronics Trading Down 8.0%

Frequency Electronics stock opened at $42.50 on Thursday. Frequency Electronics has a 12-month low of $14.41 and a 12-month high of $61.47. The firm has a 50-day moving average price of $52.28 and a 200-day moving average price of $41.97. The firm has a market capitalization of $415.65 million, a PE ratio of 56.67 and a beta of 0.35.

Frequency Electronics (NASDAQ:FEIM) last issued its quarterly earnings results on Wednesday, March 11th. The communications equipment provider reported $0.16 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.14). Frequency Electronics had a net margin of 10.78% and a return on equity of 12.88%. The firm had revenue of $16.89 million for the quarter, compared to the consensus estimate of $19.06 million.

Frequency Electronics Company Profile

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.