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

Frequency Electronics, Inc. (NASDAQ:FEIM) was the recipient of a significant decline in short interest in August. As of August 31st, there was short interest totalling 2,000 shares, a decline of 37.5% from the August 15th total of 3,200 shares. Based on an average trading volume of 12,000 shares, the short-interest ratio is currently 0.2 days. Currently, 0.0% of the company’s shares are short sold.

Shares of Frequency Electronics stock traded up $0.51 during trading on Wednesday, reaching $10.50. The stock had a trading volume of 807 shares, compared to its average volume of 10,519. The company has a market capitalization of $91.51 million, a price-to-earnings ratio of -8.96 and a beta of 0.60. The stock has a fifty day moving average price of $10.20 and a two-hundred day moving average price of $9.27. Frequency Electronics has a 52 week low of $5.95 and a 52 week high of $12.19. The company has a current ratio of 3.94, a quick ratio of 2.18 and a debt-to-equity ratio of 0.17.

Frequency Electronics (NASDAQ:FEIM) last issued its quarterly earnings results on Thursday, July 16th. The communications equipment provider reported ($0.32) EPS for the quarter. The firm had revenue of $10.24 million during the quarter. Frequency Electronics had a negative net margin of 23.06% and a negative return on equity of 17.13%.

In other Frequency Electronics news, Director Long Only Value Fund Edenbrook bought 10,000 shares of Frequency Electronics stock in a transaction on Tuesday, September 15th. The shares were purchased at an average cost of $10.36 per share, for a total transaction of $103,600.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 41.70% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Needham Investment Management LLC lifted its holdings in shares of Frequency Electronics by 45.6% in the first quarter. Needham Investment Management LLC now owns 220,000 shares of the communications equipment provider’s stock valued at $2,011,000 after purchasing an additional 68,900 shares in the last quarter. Bridgeway Capital Management Inc. lifted its holdings in shares of Frequency Electronics by 15.4% in the second quarter. Bridgeway Capital Management Inc. now owns 30,000 shares of the communications equipment provider’s stock valued at $263,000 after purchasing an additional 4,000 shares in the last quarter. Smith Moore & CO. lifted its holdings in shares of Frequency Electronics by 14.2% in the second quarter. Smith Moore & CO. now owns 24,200 shares of the communications equipment provider’s stock valued at $221,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Frequency Electronics by 550,350.0% in the second quarter. Bank of America Corp DE now owns 11,009 shares of the communications equipment provider’s stock valued at $101,000 after purchasing an additional 11,007 shares in the last quarter. Institutional investors own 62.75% of the company’s stock.

Frequency Electronics Company Profile

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.

Further Reading: Outperform Rating

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