Frequency Electronics (NASDAQ:FEIM) Stock Passes Above 200 Day Moving Average – Here’s Why

Frequency Electronics, Inc. (NASDAQ:FEIM)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $11.12 and traded as high as $12.80. Frequency Electronics shares last traded at $12.68, with a volume of 8,641 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Frequency Electronics from a “hold” rating to a “buy” rating in a report on Wednesday, October 23rd.

Frequency Electronics Stock Performance

The company has a 50 day moving average of $12.78 and a two-hundred day moving average of $11.15. The stock has a market capitalization of $121.25 million, a PE ratio of 20.32 and a beta of 0.44.

Frequency Electronics (NASDAQ:FEIM) last posted its quarterly earnings data on Tuesday, September 10th. The communications equipment provider reported $0.25 earnings per share (EPS) for the quarter. Frequency Electronics had a net margin of 10.32% and a return on equity of 16.40%. The firm had revenue of $15.08 million for the quarter.

Frequency Electronics Dividend Announcement

The company also recently declared a dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 8th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, August 8th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FEIM. Dimensional Fund Advisors LP increased its holdings in Frequency Electronics by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 684,633 shares of the communications equipment provider’s stock worth $6,237,000 after buying an additional 1,847 shares during the period. Evernest Financial Advisors LLC acquired a new stake in shares of Frequency Electronics in the third quarter worth $124,000. Finally, Thompson Davis & CO. Inc. purchased a new position in shares of Frequency Electronics during the first quarter worth $1,511,000. 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.