Frequency Electronics (NASDAQ:FEIM) Shares Cross Above 200 Day Moving Average - Time to Sell?
Frequency Electronics (NASDAQ:FEIM) shares have crossed above their 200-day moving average, trading at $33.13, up from a 200-day average of $26.37. Analysts have given the stock a consensus "Buy" rating with a target price of $43.00. Despite a recent earnings miss, hedge funds have increased their positions in the company, which specializes in precision time and frequency control products. The stock has a market cap of $322.98 million and a P/E ratio of 14.47.
Frequency Electronics, Inc. (NASDAQ:FEIM - Get Free Report)'s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $26.37 and traded as high as $34.31. Frequency Electronics shares last traded at $33.13, with a volume of 255,745 shares changing hands.
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Analyst Ratings Changes
FEIM has been the subject of a number of analyst reports. Craig Hallum assumed coverage on shares of Frequency Electronics in a report on Thursday, September 18th. They set a "buy" rating and a $43.00 price objective for the company. Wall Street Zen upgraded Frequency Electronics from a "sell" rating to a "hold" rating in a research note on Saturday, October 18th. Weiss Ratings reissued a "buy (b)" rating on shares of Frequency Electronics in a research note on Wednesday, October 8th. Finally, UBS Group set a $43.00 target price on Frequency Electronics in a report on Thursday, September 18th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $43.00.
View Our Latest Stock Report on Frequency Electronics
Frequency Electronics Trading Down 3.2%
The firm has a market capitalization of $322.98 million, a P/E ratio of 14.47 and a beta of 0.47. The stock's 50-day simple moving average is $33.92 and its 200-day simple moving average is $26.37.
Frequency Electronics (NASDAQ:FEIM - Get Free Report) last announced its earnings results on Thursday, September 11th. The communications equipment provider reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.29). The business had revenue of $13.81 million during the quarter, compared to analysts' expectations 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 in the previous year, the firm earned $0.25 EPS.
Hedge Funds Weigh In On Frequency Electronics
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc increased its holdings in Frequency Electronics by 67.4% during the first quarter. IFP Advisors Inc now owns 7,700 shares of the communications equipment provider's stock worth $121,000 after buying an additional 3,100 shares during the last quarter. Moors & Cabot Inc. grew its position in shares of Frequency Electronics by 23.6% during the 1st quarter. Moors & Cabot Inc. now owns 26,163 shares of the communications equipment provider's stock valued at $409,000 after acquiring an additional 5,000 shares during the period. OMERS ADMINISTRATION Corp purchased a new stake in shares of Frequency Electronics during the 1st quarter worth approximately $180,000. Trexquant Investment LP bought a new stake in shares of Frequency Electronics in the 1st quarter worth approximately $331,000. Finally, Apis Capital Advisors LLC purchased a new position in Frequency Electronics in the first quarter valued at approximately $313,000. 58.60% of the stock is owned by hedge funds and other institutional investors.
About Frequency Electronics
(Get Free Report)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.
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