In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Frequency Electronics Inc (NASDAQ:FEIM) reported that Edenbrook Capital, Llc has picked up 1,075,105 of common stock as of 2017-07-17.
The acquisition brings the aggregate amount owned by Edenbrook Capital, Llc to a total of 1,075,105 representing a 12.32% in the company.
For those not familiar with the company, Frequency Electronics, Inc. (FEI) is principally engaged in the design, development and manufacture of precision time and frequency control products and components for microwave integrated circuit applications. The Company operates in three segments: FEI-NY, Gillam-FEI and FEI-Zyfer. The FEI-NY segment also includes the operations of the Company’s subsidiaries, Frequency Electronics, Inc. Asia (FEI-Asia) and FEI-Elcom Tech, Inc. (FEI-Elcom). It operates through several facilities located across the world, which is used for manufacturing its products and for administrative activities, which includes Long Island, New York; Garden Grove, California; Liege, Belgium; Tianjin, China, and Rockleigh, New Jersey. The Company’s services are employed in commercial, government, command, control, communication, computer, intelligence, security and reconnaissance (C4ISR) and other military electronic systems. Its technology is used for a range of terrestrial and space applications..
A glance at Frequency Electronics Inc (NASDAQ:FEIM)’s key stats reveals a current market capitalization of 78.19 Million based on 8.80 Million shares outstanding and a price at last close of $9.08 per share.
Looking at insider activity, there are a few recent transactions worth noting.
Specifically, on 2017-07-14, Edenbrook picked up 3,296 at a purchase price of $8.43. This brings their total holding to 1,075,105 as of the date of the filing.
On the sell side, the most recent transaction saw Strang unload 500 shares at a sale price of $11.01. This brings their total holding to 0.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Frequency Electronics Inc (NASDAQ:FEIM) as things move forward to see if its progress aligns with these transactions. Subscribe below and we’ll keep you on top of what’s happening before it moves markets.