RTTNews | Sep 28, 2021 07:11AM EDT

07:10 Tuesday, September 28, 2021 (RTTNews.com) - Shares of New York - headquartered Frequency Electronics (FEIM) have risen almost 17 percent in pre-market trade after it announced the award of a contract by the Office of Naval Research, to develop the Pulsed Optically-Pumped Rubidium Atomic Frequency Standard (POPRAFS) for US Government applications.

POPRAFS is a very high performance, high stability atomic clock that offers substantially better accuracy and holdover for critical government and other applications that demand that level of performance.

The total potential contract value, if all options are exercised, is approximately $17.75 million. The base period of performance is two years, with two option periods of two years and one year, respectively.

Frequency Electronics, Inc. is engaged in the design, development and manufacture of high precision timing, frequency generation and RF control products for space and terrestrial applications.

FEIM has traded in the range of $8.82 to $13.06 in the 52-week period. It is currently trading in pre-market at $11.25, up $1.70 or 17.80 percent from previous close.

Read the original article on RTTNews ( https://www.rttnews.com/3228682/frequency-electronics-up-17-in-pre-market-on-bagging-us-govt-order.aspx)

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