Frequency Electronics, Inc. (NASDAQ:FEIM – Get Free Report) saw unusually-high trading volume on Thursday . Approximately 253,774 shares traded hands during trading, an increase of 31% from the previous session’s volume of 193,413 shares.The stock last traded at $51.7490 and had previously closed at $59.27.
Key Stories Impacting Frequency Electronics
Here are the key news stories impacting Frequency Electronics this week:
- Positive Sentiment: Frequency Electronics said it has a record $111 million funded backlog, which was up sharply year over year and gives investors better visibility into future revenue. Article Title
- Positive Sentiment: The company reaffirmed a three-year revenue target of at least $150 million and said it aims to reach 50% gross margin and 30% operating margin, suggesting management is confident about longer-term profitability. Article Title
- Neutral Sentiment: Several articles published today covered the earnings call and previewed the results, but they mainly reiterated the same mix of weak near-term results and optimistic long-term goals. Article Title
- Negative Sentiment: The quarterly miss on EPS and revenue points to softer near-term execution, which is weighing on the stock despite the improved backlog outlook. Article Title
Analyst Ratings Changes
A number of equities analysts have recently commented on FEIM shares. Weiss Ratings restated a “hold (c+)” rating on shares of Frequency Electronics in a report on Monday, June 15th. Freedom Capital upgraded Frequency Electronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Finally, Wall Street Zen raised shares of Frequency Electronics from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 4th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $43.67.
Frequency Electronics Trading Down 8.7%
The business’s 50-day moving average is $65.69 and its two-hundred day moving average is $56.77. The stock has a market capitalization of $532.53 million, a PE ratio of 71.74 and a beta of 0.71.
Frequency Electronics (NASDAQ:FEIM – Get Free Report) last released its quarterly earnings data on Wednesday, July 15th. The communications equipment provider reported ($0.50) EPS for the quarter, missing the consensus estimate of $0.26 by ($0.76). The company had revenue of $15.40 million during the quarter, compared to analysts’ expectations of $18.57 million. Frequency Electronics had a net margin of 10.78% and a return on equity of 12.69%.
Institutional Investors Weigh In On Frequency Electronics
Several hedge funds have recently modified their holdings of FEIM. Flagship Harbor Advisors LLC acquired a new stake in Frequency Electronics in the fourth quarter valued at approximately $26,000. Kestra Advisory Services LLC purchased a new position in shares of Frequency Electronics in the fourth quarter valued at $27,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Frequency Electronics in the third quarter valued at $25,000. State of Wyoming acquired a new position in Frequency Electronics in the 4th quarter worth $49,000. Finally, Wexford Capital LP purchased a new position in Frequency Electronics in the 3rd quarter valued at about $32,000. 58.60% of the stock is currently owned by hedge funds and other institutional investors.
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.
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