Frequency Electronics, Inc. (NASDAQ:FEIM) Sees Large Decline in Short Interest
Frequency Electronics, Inc. (NASDAQ:FEIM) experienced a significant decline in short interest, dropping 50.6% to 17,000 shares as of May 15th. This represents approximately 0.2% of the company's stock. The days-to-cover ratio is currently 0.2 days based on an average daily volume of 75,700 shares. Additionally, institutional investors own 58.60% of the stock, with recent acquisitions by several hedge funds. The company's stock traded down to $19.30, with a market capitalization of $186.77 million and a PE ratio of 23.54.
Frequency Electronics, Inc. (NASDAQ:FEIM - Get Free Report) was the target of a significant drop in short interest in the month of May. As of May 15th, there was short interest totalling 17,000 shares, a drop of 50.6% from the April 30th total of 34,400 shares. Approximately 0.2% of the company's stock are sold short. Based on an average trading volume of 75,700 shares, the short-interest ratio is currently 0.2 days.
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Analyst Ratings Changes
Separately, Wall Street Zen downgraded Frequency Electronics from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 25th.
Read Our Latest Report on Frequency Electronics
Insider Buying and Selling
In other news, Director Russell M. Sarachek bought 2,161 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The shares were acquired at an average price of $15.77 per share, with a total value of $34,078.97. Following the transaction, the director now owns 464,080 shares in the company, valued at $7,318,541.60. This represents a 0.47% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 26.10% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Frequency Electronics
Several institutional investors and hedge funds have recently made changes to their positions in FEIM. G2 Investment Partners Management LLC bought a new stake in Frequency Electronics in the 4th quarter valued at $1,927,000. Nokomis Capital L.L.C. acquired a new stake in shares of Frequency Electronics during the fourth quarter worth $1,778,000. Two Sigma Advisers LP bought a new stake in shares of Frequency Electronics in the fourth quarter valued at about $1,057,000. Susquehanna International Group LLP grew its stake in shares of Frequency Electronics by 204.8% in the fourth quarter. Susquehanna International Group LLP now owns 83,538 shares of the communications equipment provider's stock valued at $1,547,000 after acquiring an additional 56,134 shares in the last quarter. Finally, Marshall Wace LLP increased its position in Frequency Electronics by 108.7% during the fourth quarter. Marshall Wace LLP now owns 101,703 shares of the communications equipment provider's stock worth $1,884,000 after acquiring an additional 52,962 shares during the period. Institutional investors and hedge funds own 58.60% of the company's stock.
Frequency Electronics Price Performance
NASDAQ FEIM traded down $0.96 on Friday, hitting $19.30. 193,669 shares of the stock were exchanged, compared to its average volume of 75,147. The company has a market capitalization of $186.77 million, a PE ratio of 23.54 and a beta of 0.38. The business's fifty day moving average is $17.36 and its 200 day moving average is $16.58. Frequency Electronics has a 52 week low of $8.62 and a 52 week high of $21.00.
Frequency Electronics (NASDAQ:FEIM - Get Free Report) last issued its earnings results on Thursday, March 13th. The communications equipment provider reported $1.60 EPS for the quarter. Frequency Electronics had a return on equity of 21.49% and a net margin of 13.02%. The company had revenue of $18.93 million during the quarter.
Frequency Electronics Company Profile
(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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