Frequency Electronics (NASDAQ:FEIM) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Frequency Electronics, Inc. (NASDAQ:FEIM)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $11.37 and traded as high as $12.89. Frequency Electronics shares last traded at $12.86, with a volume of 15,985 shares trading hands.

Wall Street Analysts Forecast Growth

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

Frequency Electronics Stock Performance

The company has a 50 day simple moving average of $12.55 and a two-hundred day simple moving average of $11.37. The firm has a market cap of $123.07 million, a PE ratio of 20.74 and a beta of 0.43.

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

Institutional Trading of Frequency Electronics

A number of hedge funds have recently modified their holdings of FEIM. Thompson Davis & CO. Inc. lifted its holdings in Frequency Electronics by 43.3% in the third quarter. Thompson Davis & CO. Inc. now owns 76,134 shares of the communications equipment provider’s stock valued at $920,000 after acquiring an additional 23,009 shares during the period. XTX Topco Ltd purchased a new position in Frequency Electronics in the third quarter valued at $189,000. Barclays PLC acquired a new position in shares of Frequency Electronics in the third quarter worth about $153,000. Evernest Financial Advisors LLC purchased a new stake in shares of Frequency Electronics during the 3rd quarter worth about $124,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Frequency Electronics by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 684,633 shares of the communications equipment provider’s stock worth $6,237,000 after acquiring an additional 1,847 shares in the last quarter. Hedge funds and other institutional investors own 58.60% of the company’s stock.

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.