Frequency Electronics (NASDAQ:FEIM) posted its quarterly earnings data on Thursday. The communications equipment provider reported ($0.04) earnings per share for the quarter, Morningstar.com reports. The company had revenue of $13.19 million during the quarter. Frequency Electronics had a negative net margin of 55.22% and a negative return on equity of 20.37%.
FEIM traded up $0.64 during midday trading on Friday, hitting $11.44. The company had a trading volume of 14,624 shares, compared to its average volume of 9,632. Frequency Electronics has a twelve month low of $7.30 and a twelve month high of $13.52.
Separately, ValuEngine upgraded shares of Frequency Electronics from a “hold” rating to a “buy” rating in a research report on Monday, February 4th.
Institutional investors and hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC increased its position in Frequency Electronics by 30.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 150,500 shares of the communications equipment provider’s stock valued at $1,561,000 after acquiring an additional 35,000 shares in the last quarter. Royce & Associates LP grew its position in shares of Frequency Electronics by 13.5% during the 3rd quarter. Royce & Associates LP now owns 395,262 shares of the communications equipment provider’s stock worth $4,099,000 after buying an additional 47,027 shares during the period. Renaissance Technologies LLC grew its position in shares of Frequency Electronics by 5.8% during the 3rd quarter. Renaissance Technologies LLC now owns 247,700 shares of the communications equipment provider’s stock worth $2,569,000 after buying an additional 13,512 shares during the period. Smith Moore & CO. acquired a new stake in shares of Frequency Electronics during the 3rd quarter worth approximately $261,000. Finally, Morgan Stanley grew its position in shares of Frequency Electronics by 106.7% during the 3rd quarter. Morgan Stanley now owns 179,197 shares of the communications equipment provider’s stock worth $1,858,000 after buying an additional 92,497 shares during the period. Hedge funds and other institutional investors own 45.20% 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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