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

Frequency Electronics, Inc. (NASDAQ:FEIM) was the recipient of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 30,300 shares, a growth of 45.0% from the November 30th total of 20,900 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average trading volume of 62,100 shares, the short-interest ratio is currently 0.5 days.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Frequency Electronics from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 20th.

Frequency Electronics Price Performance

NASDAQ:FEIM traded down $0.29 during trading hours on Monday, reaching $19.13. 14,114 shares of the company were exchanged, compared to its average volume of 54,292. Frequency Electronics has a 52-week low of $8.62 and a 52-week high of $20.33. The stock has a 50 day simple moving average of $14.43 and a 200 day simple moving average of $12.70. The firm has a market cap of $183.86 million, a price-to-earnings ratio of 23.33 and a beta of 0.48.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of 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 stake in shares of Frequency Electronics during the third quarter valued at about $124,000. Barclays PLC purchased a new stake in shares of Frequency Electronics during the third quarter worth about $153,000. XTX Topco Ltd acquired a new position in shares of Frequency Electronics in the third quarter worth about $189,000. Finally, Geode Capital Management LLC boosted its holdings in Frequency Electronics by 26.3% in the third 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 during 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.