Short Interest in Frequency Electronics, Inc. (NASDAQ:FEIM) Drops By 16.1%

Frequency Electronics, Inc. (NASDAQ:FEIM - Get Free Report) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 24,000 shares, a decline of 16.1% from the October 15th total of 28,600 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average daily volume of 54,400 shares, the days-to-cover ratio is presently 0.4 days.

Frequency Electronics Price Performance

Shares of NASDAQ:FEIM traded down $0.03 during midday trading on Friday, reaching $12.86. 15,986 shares of the company's stock were exchanged, compared to its average volume of 46,767. The firm's 50 day simple moving average is $12.53 and its two-hundred day simple moving average is $11.39. Frequency Electronics has a fifty-two week low of $7.96 and a fifty-two week high of $14.50. The stock has a market cap of $123.07 million, a price-to-earnings ratio of 20.74 and a beta of 0.43.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) last issued its quarterly earnings data on Tuesday, September 10th. The communications equipment provider reported $0.25 earnings per share for the quarter. The business had revenue of $15.08 million during the quarter. Frequency Electronics had a return on equity of 16.40% and a net margin of 10.32%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Frequency Electronics from a "hold" rating to a "buy" rating in a research report on Wednesday, October 23rd.

Institutional Trading of Frequency Electronics

Several hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in Frequency Electronics by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 684,633 shares of the communications equipment provider's stock valued at $6,237,000 after purchasing an additional 1,847 shares during the period. Evernest Financial Advisors LLC acquired a new position in Frequency Electronics in the 3rd quarter valued at $124,000. Barclays PLC purchased a new stake in Frequency Electronics in the third quarter valued at approximately $153,000. XTX Topco Ltd purchased a new position in shares of Frequency Electronics in the 3rd quarter worth about $189,000. Finally, Geode Capital Management LLC lifted its stake in shares of Frequency Electronics by 26.3% in the 3rd quarter. Geode Capital Management LLC now owns 92,451 shares of the communications equipment provider's stock valued at $1,117,000 after purchasing an additional 19,259 shares in the last quarter. Institutional investors and hedge funds own 58.60% of the company's stock.

About Frequency Electronics

Frequency Electronics, Inc, together with its subsidiaries, engages in designing, development, and manufacturing of 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 and frequency control products for communication satellites, terrestrial cellular telephone or other ground-based telecommunication stations; and other components and systems for the U.S.