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

Frequency Electronics, Inc. (NASDAQ:FEIMGet Rating) was the recipient of a significant decrease in short interest in the month of April. As of April 30th, there was short interest totalling 4,800 shares, a decrease of 51.0% from the April 15th total of 9,800 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 7,200 shares, the days-to-cover ratio is currently 0.7 days.

Separately, TheStreet cut Frequency Electronics from a “c” rating to a “d+” rating in a research report on Thursday, March 10th.

Frequency Electronics stock traded up $0.23 during trading hours on Friday, reaching $7.58. 24,289 shares of the company were exchanged, compared to its average volume of 5,681. The stock has a 50-day moving average of $8.34 and a 200 day moving average of $9.04. Frequency Electronics has a 12 month low of $7.18 and a 12 month high of $11.33.

Frequency Electronics (NASDAQ:FEIMGet Rating) last posted its quarterly earnings data on Thursday, March 10th. The communications equipment provider reported ($0.08) earnings per share for the quarter. Frequency Electronics had a negative net margin of 0.75% and a negative return on equity of 0.74%. The business had revenue of $12.25 million during the quarter.

Several institutional investors and hedge funds have recently bought and sold shares of FEIM. BlackRock Inc. boosted its position in shares of Frequency Electronics by 20.5% in the third quarter. BlackRock Inc. now owns 194,366 shares of the communications equipment provider’s stock valued at $2,007,000 after acquiring an additional 33,059 shares during the period. Geode Capital Management LLC boosted its position in shares of Frequency Electronics by 12.9% in the third quarter. Geode Capital Management LLC now owns 33,303 shares of the communications equipment provider’s stock valued at $346,000 after acquiring an additional 3,810 shares during the period. Needham Investment Management LLC boosted its position in shares of Frequency Electronics by 4.5% in the fourth quarter. Needham Investment Management LLC now owns 646,350 shares of the communications equipment provider’s stock valued at $6,450,000 after acquiring an additional 28,008 shares during the period. Finally, Shufro Rose & Co. LLC boosted its position in shares of Frequency Electronics by 130.2% in the first quarter. Shufro Rose & Co. LLC now owns 94,742 shares of the communications equipment provider’s stock valued at $824,000 after acquiring an additional 53,581 shares during the period. 57.45% of the stock is owned by institutional investors.

About Frequency Electronics (Get Rating)

Frequency Electronics, Inc, together with its subsidiaries, 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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