Frequency Electronics Wins Contract for Atomic Clock Development, Shares Up Leave a comment


By Stephen Nakrosis

Shares of Frequency Electronics, Inc. are trading higher after hours Monday following news the company was awarded a contract by the Office of Naval Research to develop the Pulsed Optically-Pumped Rubidium Atomic Frequency Standard.

Stan Sloane, the company’s chief executive, said, “The POPRAFS technology is a game changer for atomic clocks and will result in a significant improvement in capability over currently available products.”

At 5:23 p.m. EDT, the company’s shares were trading 25.65% higher at $12 per share. Volume in the after-hours session topped 224,000 shares.

The company’s stock finished the day’s regular-trading session with a 1.04% loss at $9.55 a share.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com



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