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

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its position in Frequency Electronics by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 684,633 shares of the communications equipment provider’s stock worth $6,237,000 after buying an additional 1,847 shares in the last quarter. Evernest Financial Advisors LLC acquired a new stake in shares of Frequency Electronics during the 3rd quarter worth $124,000. Geode Capital Management LLC increased its position in shares of Frequency Electronics by 26.3% in the third quarter. Geode Capital Management LLC now owns 92,451 shares of the communications equipment provider’s stock worth $1,117,000 after purchasing an additional 19,259 shares during the period. Barclays PLC acquired a new position in Frequency Electronics in the third quarter valued at about $153,000. Finally, XTX Topco Ltd bought a new stake in Frequency Electronics during the third quarter worth about $189,000. 58.60% of the stock is owned by institutional investors.

Frequency Electronics Stock Performance

NASDAQ:FEIM traded up $0.08 during mid-day trading on Monday, hitting $12.94. 5,831 shares of the stock were exchanged, compared to its average volume of 46,583. The stock has a market capitalization of $123.80 million, a price-to-earnings ratio of 20.74 and a beta of 0.43. The firm’s 50-day simple moving average is $12.53 and its 200 day simple moving average is $11.41. Frequency Electronics has a fifty-two week low of $8.12 and a fifty-two week high of $14.50.

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

Analyst Ratings Changes

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

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.