Frequency Electronics, Inc. (NASDAQ:FEIM) Sees Large Decrease in Short Interest

Frequency Electronics, Inc. (NASDAQ:FEIM) was the recipient of a large decrease in short interest in October. As of October 31st, there was short interest totalling 24,000 shares, a decrease of 16.1% from the October 15th total of 28,600 shares. Based on an average daily trading volume, of 54,400 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.3% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Thompson Davis & CO. Inc. boosted its holdings in shares of Frequency Electronics by 43.3% during the third quarter. Thompson Davis & CO. Inc. now owns 76,134 shares of the communications equipment provider’s stock worth $920,000 after purchasing an additional 23,009 shares during the last quarter. XTX Topco Ltd purchased a new position in Frequency Electronics during the third quarter worth about $189,000. Barclays PLC acquired a new stake in Frequency Electronics in the 3rd quarter worth about $153,000. Evernest Financial Advisors LLC purchased a new stake in Frequency Electronics in the 3rd quarter valued at about $124,000. Finally, Dimensional Fund Advisors LP increased 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 valued at $6,237,000 after acquiring an additional 1,847 shares during the last quarter. 58.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Frequency Electronics Trading Down 0.2 %

Shares of FEIM stock opened at $12.86 on Friday. The company has a market capitalization of $123.07 million, a price-to-earnings ratio of 20.74 and a beta of 0.43. The firm has a 50-day moving average price of $12.55 and a 200 day moving average price of $11.37. Frequency Electronics has a twelve month low of $7.96 and a twelve month high of $14.50.

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

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.