Frequency Electronics (NASDAQ:FEIM) announced its quarterly earnings results on Monday. The communications equipment provider reported ($0.07) earnings per share for the quarter, Morningstar.com reports. The firm had revenue of $12.55 million for the quarter. Frequency Electronics had a negative net margin of 6.17% and a negative return on equity of 4.93%.
Shares of FEIM opened at $11.20 on Thursday. The firm has a fifty day simple moving average of $11.20 and a two-hundred day simple moving average of $11.67. Frequency Electronics has a twelve month low of $9.03 and a twelve month high of $13.52.
In other news, Director Edenbrook Capital, Llc purchased 5,000 shares of the company’s stock in a transaction on Friday, July 19th. The stock was acquired at an average price of $11.99 per share, with a total value of $59,950.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Long Only Value Fund Edenbrook purchased 2,700 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were purchased at an average cost of $11.83 per share, with a total value of $31,941.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 12,906 shares of company stock valued at $154,311 in the last three months. 37.70% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its position in Frequency Electronics by 1.4% during the 2nd quarter. BlackRock Inc. now owns 200,037 shares of the communications equipment provider’s stock valued at $2,278,000 after buying an additional 2,790 shares during the period. Renaissance Technologies LLC boosted its position in Frequency Electronics by 1.1% during the 2nd quarter. Renaissance Technologies LLC now owns 259,483 shares of the communications equipment provider’s stock valued at $2,956,000 after buying an additional 2,903 shares during the period. Royce & Associates LP boosted its position in Frequency Electronics by 7.9% during the 1st quarter. Royce & Associates LP now owns 532,912 shares of the communications equipment provider’s stock valued at $6,315,000 after buying an additional 39,121 shares during the period. Dimensional Fund Advisors LP boosted its position in Frequency Electronics by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 690,241 shares of the communications equipment provider’s stock valued at $7,317,000 after buying an additional 10,416 shares during the period. Finally, Kennedy Capital Management Inc. boosted its position in Frequency Electronics by 0.6% during the 1st quarter. Kennedy Capital Management Inc. now owns 844,583 shares of the communications equipment provider’s stock valued at $10,008,000 after buying an additional 5,410 shares during the period. 44.82% of the stock is owned by institutional investors and hedge funds.
Separately, ValuEngine cut shares of Frequency Electronics from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st.
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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