Frequency Electronics, Inc. (NASDAQ:FEIM) Short Interest Down 16.1% in October

Frequency Electronics, Inc. (NASDAQ:FEIM) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 24,000 shares, a decline of 16.1% from the October 15th total of 28,600 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average trading volume of 54,400 shares, the short-interest ratio is presently 0.4 days.

Wall Street Analysts Forecast Growth

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

Frequency Electronics Price Performance

FEIM opened at $12.86 on Friday. Frequency Electronics has a 12 month low of $7.96 and a 12 month high of $14.50. The stock has a market capitalization of $123.07 million, a P/E ratio of 20.74 and a beta of 0.43. The business has a 50 day simple moving average of $12.55 and a 200-day simple moving average of $11.37.

Frequency Electronics (NASDAQ:FEIM) last released 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 company had revenue of $15.08 million during the quarter.

Institutional Trading of Frequency Electronics

A number of institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position 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 period. Evernest Financial Advisors LLC acquired a new position in Frequency Electronics during the third quarter worth $124,000. Barclays PLC purchased a new stake in Frequency Electronics during the third quarter worth $153,000. XTX Topco Ltd purchased a new position in shares of Frequency Electronics in the third quarter valued at $189,000. Finally, Thompson Davis & CO. Inc. raised its stake in shares of Frequency Electronics by 43.3% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 76,134 shares of the communications equipment provider’s stock worth $920,000 after buying an additional 23,009 shares during the last quarter. Hedge funds and other institutional investors own 58.60% of the company’s stock.

Frequency Electronics Company Profile

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.