ValuEngine Downgrades Frequency Electronics (NASDAQ:FEIM) to Hold

Frequency Electronics (NASDAQ:FEIM) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Thursday, ValuEngine reports.

Shares of FEIM stock traded up $0.29 on Thursday, reaching $11.95. The company’s stock had a trading volume of 11,035 shares, compared to its average volume of 9,123. The stock’s fifty day simple moving average is $11.76. Frequency Electronics has a 1 year low of $7.80 and a 1 year high of $13.52.

Frequency Electronics (NASDAQ:FEIM) last posted its earnings results on Thursday, July 18th. The communications equipment provider reported ($0.26) earnings per share for the quarter. Frequency Electronics had a negative net margin of 5.11% and a negative return on equity of 3.95%. The business had revenue of $13.16 million during the quarter.

In related news, Director Edenbrook Capital, Llc purchased 5,000 shares of the stock in a transaction that occurred on Friday, July 19th. The stock was bought at an average cost of $11.99 per share, for a total transaction of $59,950.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Long Only Value Fund Edenbrook purchased 5,206 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was bought at an average price of $11.99 per share, with a total value of $62,419.94. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 12,906 shares of company stock valued at $154,311. 41.70% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of FEIM. Moors & Cabot Inc. lifted its position in Frequency Electronics by 100.0% in the first quarter. Moors & Cabot Inc. now owns 77,634 shares of the communications equipment provider’s stock worth $926,000 after buying an additional 38,817 shares during the last quarter. BlackRock Inc. lifted its position in Frequency Electronics by 3.7% in the fourth quarter. BlackRock Inc. now owns 191,798 shares of the communications equipment provider’s stock worth $2,033,000 after buying an additional 6,882 shares during the last quarter. Royce & Associates LP lifted its position in Frequency Electronics by 7.9% in the first quarter. Royce & Associates LP now owns 532,912 shares of the communications equipment provider’s stock worth $6,315,000 after buying an additional 39,121 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Frequency Electronics by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 690,241 shares of the communications equipment provider’s stock worth $7,317,000 after buying an additional 10,416 shares during the last quarter. Finally, Kennedy Capital Management Inc. lifted its position in Frequency Electronics by 0.6% in the first quarter. Kennedy Capital Management Inc. now owns 844,583 shares of the communications equipment provider’s stock worth $10,008,000 after buying an additional 5,410 shares during the last quarter. Institutional investors own 45.72% of the company’s stock.

About Frequency Electronics

Frequency Electronics, Inc designs, develops, manufactures, and sells 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, frequency generation, and synchronization products and subsystems used in communication satellites, terrestrial cellular telephone, or other ground-based telecommunication stations; and other components and systems for the United States military.

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