Home Top Movers Why The Shares Of U.S. Global Investors (GROW) Surging Pre-Market?

Why The Shares Of U.S. Global Investors (GROW) Surging Pre-Market?

Shares of investment management firm U.S. Global Investors, Inc. (GROW) has been taking a higher flight in premarket-trading at $7.99 with an increase of 33.17% as of 06:12 a.m. EST. In yesterday’s trading, the stock has lost -1.64% of its valuation to close at $6.00.

Get the hottest stocks to trade every day before the market opens 100% free. Click here now.  

What led to the stock price increasing?

5 Stocks Under $10 That Are Poised to Take Off

Investing in stocks under $10 could significantly increase the returns on your portfolio, especially if you pick the right stocks! Within this report you will find 5 top stocks that offer investors huge upside potential and the best bang for their buck.

Add them to your watchlist before they take off!

Get the Top 5 Stocks Now!

Sponsored

U.S. Global Investors is a publicly owned registered investment advisory firm that has been dedicated to dealing with global markets and sectors for many years. The firm on Thursday reported its financial results for fiscal second-quarter 2021.

Read More

Financial Highlights:

The company’s total operating revenues for the quarter ended December 31, 2020 grew by 60% during the quarter, while it was up about 480% year-over-year. Net income was $16.7 million, or $1.10 per share, representing a QoQ increase of $14.7 million and a YoY increase of $17.7 million.

Against an investment loss of $451,000 for the three months ended December 31, 2019, the company succeeded to post an improvement of approximately $21.2 million by posting an investment income of $20.7 million in the reported quarter.

GROW’s net cash increased $19.0 million during the fiscal second quarter, compared to an increase of $662,000 during the fiscal first quarter and $376,000 in the corresponding quarter of 2019.

On average, assets under management (AUM) of the company during the quarter remained $2.9 billion, which were 45% more than the AUMs in the same quarter a year ago and nearly 450% more year-over-year. Currently, U.S. Global Investors has been managing assets worth $3.5 billion, while the worth of AUMs the company was managing in the December quarter of 2019 was $560.5 million which implies an increased dollar amount of $3.0 billion or a rise of 530%.

For February and March 2021, the company has decided to increase the monthly dividend to $0.005, paying nearly $188,000 in cash dividends to holders of the company’s class A and class C shares from January to March 2021.

Get the hottest stocks to trade every day before the market opens 100% free. Click here now.  

Conclusion:

GROW has added more than 350% to its value over the past year and impressive financials have likely been rising price of the stock higher in the premarket session today.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

Torchlight Energy Resources Inc. (TRCH) stock surged during current market trading. Here’s to know why?

Torchlight Energy Resources Inc. (NASDAQ: TRCH) stock gained by 41.33% in the current market trading session. Torchlight Energy Resources is a vast growing oil...

The9 Ltd. (NCTY) stock declined during pre-market trading. Here’s the update

The9 Ltd. (NASDAQ: NCTY) stock plunged by 12% at the last close while the NCTY stock price fell by 7.03% during pre-market trading. The9...

The Dixie Group Inc. (DXYN) stock surged during pre-market trading given no recent news

The Dixie Group Inc. (NASDAQ: DXYN) stock gained by 11.55% in the pre-market trading session. However, there is no update available regarding this hike...

Why BancorpSouth Bank (BXS) stock plummeted on Friday?

BancorpSouth Bank (BXS) shares plummeted 9.39% in after-hours on Friday, June 18, 2021, and close the weekly business at $25.00 per share. Earlier, BXS's...

CureVac Inc. (CVAC) stock soar during pre-market trading. Here’s what you should know?

CureVac Inc. (NASDAQ: CVAC) stock declined by 38.99% at the last close while the CVAC stock price gains by 11.34% in the pre-market trading...

Anavex Inc. (AVXL) stock soars during pre-market trading. Let’s see why?

Anavex Inc. (AVXL) stock gained by 4.29% at the last close while the AVXL stock price surged by 12.38% in the pre-market trading session....

The9 Ltd. (NCTY) stock declined during pre-market trading. Here’s the update

The9 Ltd. (NASDAQ: NCTY) stock plunged by 12% at the last close while the NCTY stock price fell by 7.03% during pre-market trading. The9...

The Dixie Group Inc. (DXYN) stock surged during pre-market trading given no recent news

The Dixie Group Inc. (NASDAQ: DXYN) stock gained by 11.55% in the pre-market trading session. However, there is no update available regarding this hike...

Related News

Why Eyenovia Inc. (EYEN) stock price went up in the after-market on Friday?

Eyenovia Inc. (EYEN) shares pop up 8.41% in after-hours on Friday, June 18, 2021, and close the week at $5.80 per share. Earlier, EYEN's...

CorMedix Inc. (CRMD) stock surged during after-hour session. What has been happening lately?

CorMedix Inc. (NASDAQ: CRMD) stock fell by 1.91% at last close while the CRMD stock price gains by 6.49% in the after-hours session. There...

Edesa Biotech Inc. (EDSA) stock surged during current market trading. Here’s to know why?

Edesa Biotech Inc. (NASDAQ: EDSA) stock gained by 4.22% in the current market trading. Edesa Biotech is a clinical-stage biopharmaceutical business dedicated on the...

VivoPower International Inc. (VVPR) stock soars during pre-market trading. What’s driving it high?

VivoPower International Inc. (NASDAQ: VVPR) stock gained by 1.13% at last close while the VVPR stock price surged during pre-market trading by 1.54%. VivoPower...

Cleveland BioLabs Inc. (CBLI) stock surged during after-hour session. Here’s what’s happening?

Cleveland BioLabs Inc. (NASDAQ: CBLI) stock declined by 3.58% at the last close while the CBLI stock price gains by 17.53% during the after-hour...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.

Get Notified Of Insider Trades, Analyst Upgrades & Downgrades, Earnings Updates & Best Stocks To Trade Every Single Morning

100% free. stop anytime no spam