Frequency Electronics (NASDAQ:FEIM) Raised to Buy at Wall Street Zen

Frequency Electronics (NASDAQ:FEIM) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Frequency Electronics Stock Down 21.0%

Frequency Electronics stock opened at $27.13 on Friday. The company has a fifty day simple moving average of $27.76 and a 200-day simple moving average of $21.26. The firm has a market capitalization of $264.52 million, a price-to-earnings ratio of 11.85 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 posted its quarterly 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). Frequency Electronics had a return on equity of 45.96% and a net margin of 32.10%.The business had revenue of $13.81 million for the quarter, compared to analyst estimates of $16.53 million. During the same quarter in the previous year, the firm posted $0.25 earnings per share.

Hedge Funds Weigh In On Frequency Electronics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Thompson Davis & CO. Inc. increased its holdings 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 last quarter. Militia Capital Partners LP purchased a new position in Frequency Electronics in the second quarter worth approximately $677,000. Lazard Asset Management LLC increased its stake in Frequency Electronics by 10,807.7% during the second quarter. Lazard Asset Management LLC now owns 4,254 shares of the communications equipment provider’s stock worth $96,000 after acquiring an additional 4,215 shares during the last quarter. Bank of America Corp DE raised its position in Frequency Electronics by 3,558.9% in the second quarter. Bank of America Corp DE now owns 2,671 shares of the communications equipment provider’s stock valued at $61,000 after purchasing an additional 2,598 shares during the period. Finally, Ameriprise Financial Inc. acquired a new position in shares of Frequency Electronics in the 2nd quarter valued at $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.