Frequency Electronics, Inc. (NASDAQ:FEIM) Sees Large Decline in Short Interest

Frequency Electronics, Inc. (NASDAQ:FEIM) was the target of a large decrease in short interest during the month of March. As of March 13th, there was short interest totalling 1,500 shares, a decrease of 40.0% from the February 27th total of 2,500 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 9,600 shares, the days-to-cover ratio is presently 0.2 days.

In related news, Director Edenbrook Capital, Llc purchased 2,786 shares of the stock in a transaction that occurred on Thursday, January 9th. The stock was acquired at an average cost of $10.14 per share, with a total value of $28,250.04. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders purchased a total of 41,455 shares of company stock valued at $335,193 over the last three months. 37.70% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in the business. Kennedy Capital Management Inc. grew its stake in Frequency Electronics by 1.3% in the 4th quarter. Kennedy Capital Management Inc. now owns 851,646 shares of the communications equipment provider’s stock valued at $8,695,000 after purchasing an additional 10,691 shares during the period. Royce & Associates LP grew its stake in Frequency Electronics by 7.9% in the 4th quarter. Royce & Associates LP now owns 711,624 shares of the communications equipment provider’s stock valued at $7,266,000 after purchasing an additional 52,008 shares during the period. Finally, Shufro Rose & Co. LLC grew its stake in Frequency Electronics by 11.5% in the 4th quarter. Shufro Rose & Co. LLC now owns 31,651 shares of the communications equipment provider’s stock valued at $323,000 after purchasing an additional 3,254 shares during the period. Hedge funds and other institutional investors own 60.62% of the company’s stock.

NASDAQ:FEIM traded up $0.52 during trading on Thursday, reaching $8.97. The company’s stock had a trading volume of 2,550 shares, compared to its average volume of 8,107. The firm has a market cap of $73.13 million, a price-to-earnings ratio of -8.63 and a beta of 0.70. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.03 and a current ratio of 5.97. The firm has a 50 day moving average of $8.52 and a 200-day moving average of $10.06. Frequency Electronics has a 12 month low of $5.95 and a 12 month high of $12.55.

Frequency Electronics (NASDAQ:FEIM) last announced its quarterly earnings data on Thursday, March 12th. The communications equipment provider reported ($0.17) earnings per share (EPS) for the quarter. The business had revenue of $9.63 million during the quarter. Frequency Electronics had a negative net margin of 21.17% and a negative return on equity of 15.62%.

A number of equities research analysts recently commented on FEIM shares. TheStreet lowered Frequency Electronics from a “c-” rating to a “d+” rating in a research report on Wednesday, February 5th. ValuEngine lowered Frequency Electronics from a “buy” rating to a “hold” rating in a research report on Wednesday, March 18th.

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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