Frequency Electronics, Inc. (FEIM) Announces Earnings Results
Frequency Electronics, Inc. (NASDAQ:FEIM) released its earnings results on Wednesday. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, Morningstar.com reports. Frequency Electronics had a negative return on equity of 5.35% and a negative net margin of 9.57%. The firm had revenue of $12.02 million for the quarter.
Shares of Frequency Electronics (FEIM) opened at 8.49 on Thursday. The stock’s 50 day moving average price is $8.29 and its 200 day moving average price is $9.65. Frequency Electronics has a 12-month low of $7.53 and a 12-month high of $11.50. The company’s market capitalization is $74.11 million.
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Separately, TheStreet cut Frequency Electronics from a “c-” rating to a “d” rating in a research report on Friday, July 28th.
In other Frequency Electronics news, major shareholder Edenbrook Capital, Llc purchased 50,000 shares of the stock in a transaction on Tuesday, September 5th. The shares were purchased at an average price of $8.00 per share, with a total value of $400,000.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 38.90% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. GRT Capital Partners L.L.C. purchased a new position in shares of Frequency Electronics during the 2nd quarter valued at about $105,000. Shufro Rose & Co. LLC raised its holdings in shares of Frequency Electronics by 13.4% during the 2nd quarter. Shufro Rose & Co. LLC now owns 14,391 shares of the communications equipment provider’s stock valued at $137,000 after buying an additional 1,700 shares in the last quarter. Deltec Asset Management LLC raised its holdings in shares of Frequency Electronics by 21.7% during the 2nd quarter. Deltec Asset Management LLC now owns 27,600 shares of the communications equipment provider’s stock valued at $263,000 after buying an additional 4,926 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Frequency Electronics by 9.0% during the 2nd quarter. Northern Trust Corp now owns 31,741 shares of the communications equipment provider’s stock valued at $302,000 after buying an additional 2,622 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Frequency Electronics by 50.2% during the 2nd quarter. Vanguard Group Inc. now owns 293,376 shares of the communications equipment provider’s stock valued at $2,798,000 after buying an additional 97,993 shares in the last quarter. 39.06% of the stock is currently owned by institutional investors.
Frequency Electronics Company Profile
Frequency Electronics, Inc (FEI) is principally engaged in the design, development and manufacture of precision time and frequency control products and components for microwave integrated circuit applications. The Company operates in three segments: FEI-NY, Gillam-FEI and FEI-Zyfer. The FEI-NY segment also includes the operations of the Company’s subsidiaries, Frequency Electronics, Inc Asia (FEI-Asia) and FEI-Elcom Tech, Inc (FEI-Elcom).
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