HomeEquities ScoreHere is the reason behind Universal Security Instruments Inc. (UUU) stock plummeting...

Here is the reason behind Universal Security Instruments Inc. (UUU) stock plummeting on Thursday.

Universal Security Instruments Inc. (UUU) shares declined 18.33% in after-hours on Thursday, July 8, 2021, and closed the day at $7.35. Earlier in the morning session, UUU’s stock lost 4.26% to close Thursday’s session at $9.00. UUU shares have risen 791.09% over the last 12 months, and they have moved up 7.14% in the past week. Over the past three months, the stock has gained 17.65%, while over the past six months, it has slid down 30.43%.

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Recent financial results announcement

On July 8, 2021, Universal Security Instruments, Inc released its financial results for the fourth quarter and its fiscal year ended March 31, 2021.


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Q4 2021 financial highlights

  • The company’s sales were 2,997,338in Q4 2021 compared to $3,613,786 in Q4 2020.
  • It suffered a net loss of $456,838, or $0.19per basic and diluted share in Q4 2021 compared to a net loss of $3,492,290, or $1.51 per basic and diluted share for Q4 2020.

FY2021 financial results

  • In FY 2021, sales were $17,520,151compared to $14,803,024 for the fiscal year ended March 31, 2020.
  • Net income was $268,343, or $0.12per basic and diluted share in FY 2021, compared to a net loss of $5,813,891 or $2.51 per basic and diluted share, for FY 2020.

Q3 2021 financial results announcement

On February 9, 2021, Universal Security Instruments, Inc reported results for its fiscal third quarter and nine months ended December 31, 2020.

Q3 2021 financial highlights

The company reported net sales of $5,124,750 for Q3 2021 compared to sales of $3,223,678 in Q3 2020.

Net income was $78,318 or $0.03 per basic and diluted share in Q3 2021 compared to a net loss of $1,011,833 or $0.44 per basic and diluted share for Q3 2020.

Conclusion

The company’s Q4 2021 results were not very attractive and hence its stock price plummeted on Thursday. there is no other recent positive news or development which could balance this recent negativity. We hope that the negative trend will not resume on Friday and UUU will perform well on Friday.

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About the company

USI (Universal Security Instruments, Inc.) was founded in 1969 and makes the most innovative home protection solutions available today. The UUU is one of the largest manufacturers of smoke and carbon monoxide alarms in the world. The company has 11 patents on detection technologies, based on its proprietary research into the science of fire and fire detection. The company products are approved in more than 30 countries and also its production facilities are ISO9001 certified.

The company’s other products are home protection devices, bathroom fan products, GFCI, and USB wiring devices.

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