Frequency Electronics (NASDAQ:FEIM) Upgraded at StockNews.com

StockNews.com upgraded shares of Frequency Electronics (NASDAQ:FEIM) from a buy rating to a strong-buy rating in a report issued on Friday morning.

Frequency Electronics Stock Performance

FEIM opened at $19.02 on Friday. The company’s 50-day simple moving average is $13.77 and its two-hundred day simple moving average is $12.35. The stock has a market capitalization of $182.80 million, a P/E ratio of 23.20 and a beta of 0.48. Frequency Electronics has a 52-week low of $8.62 and a 52-week high of $19.47.

Institutional Investors Weigh In On Frequency Electronics

A number of hedge funds have recently added to or reduced their stakes in the stock. Evernest Financial Advisors LLC purchased a new position in Frequency Electronics in the third quarter worth about $124,000. Barclays PLC purchased a new position in shares of Frequency Electronics during the 3rd quarter worth $153,000. XTX Topco Ltd purchased a new stake in shares of Frequency Electronics in the 3rd quarter worth $189,000. Thompson Davis & CO. Inc. grew its holdings in 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 valued at $920,000 after purchasing an additional 23,009 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Frequency Electronics by 26.3% during the 3rd quarter. Geode Capital Management LLC now owns 92,451 shares of the communications equipment provider’s stock valued at $1,117,000 after buying an additional 19,259 shares in the last quarter. 58.60% of the stock is currently owned by hedge funds and other institutional investors.

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.