Frequency Electronics, Inc. (NASDAQ:FEIM – Get Rating) was the target of a sharp drop in short-term interest during the month of April. As of April 15, there was short interest totaling 9,800 shares, down 26.9% from the March 31 total of 13,400 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily volume of 7,200 shares, the day-to-cover ratio is currently 1.4 days.

Shares of FEIM rose $0.07 during midday trading on Monday, hitting $8.11. The company had a trading volume of 6,000 shares, compared to an average volume of 6,781. The company has a 50-day moving average price of $8.61. Frequency Electronics has a 1-year low of $7.68 and a 1-year high of $11.33.

Frequency Electronics (NASDAQ:FEIM – Get Rating) last announced its results on Thursday, March 10. The communications equipment provider reported ($0.08) earnings per share (EPS) for the quarter. Frequency Electronics had a negative return on equity of 0.74% and a negative net margin of 0.75%. The company had revenue of $12.25 million for the quarter.

Separately, TheStreet downgraded Frequency Electronics from a “c” rating to a “d+” rating in a Thursday, March 10 research report.

A number of institutional investors have recently changed their positions in FEIM. Needham Investment Management LLC increased its stake in Frequency Electronics by 4.5% during the fourth quarter. Needham Investment Management LLC now owns 646,350 shares of the communications equipment provider valued at $6,450,000 after buying an additional 28,008 shares last quarter. Geode Capital Management LLC increased its position in Frequency Electronics shares by 12.9% in the third quarter. Geode Capital Management LLC now owns 33,303 shares of the communications equipment provider valued at $346,000 after purchasing an additional 3,810 shares during the period. Finally, BlackRock Inc. strengthened its position in Frequency Electronics by 20.5% in the 3rd quarter. BlackRock Inc. now owns 194,366 shares of the communications equipment supplier worth $2,007,000 after acquiring an additional 33,059 shares during the period. 57.45% of the shares are held by hedge funds and other institutional investors.

Frequency Electronics Company Profile (Get a rating)

Frequency Electronics, Inc., together with its subsidiaries, 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 timing products and subsystems used in communications satellites, ground cellular telephones or other ground based telecommunications stations; and other components and systems for the US military.

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