Universal Security Instruments (NYSE:UUU) Stock Price Down 2.4% – Here’s Why

Shares of Universal Security Instruments, Inc. (NYSE:UUU) dropped 2.4% during trading on Thursday . The company traded as low as $3.70 and last traded at $3.7960. Approximately 7,169 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 80,622 shares. The stock had previously closed at $3.89.

Universal Security Instruments Trading Down 2.4%

The stock’s fifty day moving average price is $5.31 and its 200 day moving average price is $5.38. The stock has a market cap of $11.50 million and a P/E ratio of -6.78.

Insiders Place Their Bets

In other news, Director Milton C. Ault III purchased 185,000 shares of the company’s stock in a transaction on Friday, May 15th. The stock was purchased at an average price of $5.75 per share, with a total value of $1,063,750.00. Following the completion of the purchase, the director directly owned 1,025,252 shares in the company, valued at approximately $5,895,199. This trade represents a 22.02% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders bought a total of 340,600 shares of company stock worth $1,957,399 in the last quarter. Company insiders own 44.54% of the company’s stock.

Hedge Funds Weigh In On Universal Security Instruments

Institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of Universal Security Instruments by 22.8% during the 4th quarter. Geode Capital Management LLC now owns 15,355 shares of the company’s stock valued at $79,000 after buying an additional 2,850 shares in the last quarter. Qube Research & Technologies Ltd bought a new stake in Universal Security Instruments in the 3rd quarter worth approximately $42,000. Bridgeway Capital Management LLC purchased a new stake in Universal Security Instruments in the fourth quarter worth approximately $56,000. DRW Securities LLC boosted its stake in Universal Security Instruments by 24.6% in the fourth quarter. DRW Securities LLC now owns 77,979 shares of the company’s stock worth $402,000 after buying an additional 15,404 shares in the last quarter. Finally, Heron Bay Capital Management bought a new position in Universal Security Instruments during the fourth quarter valued at approximately $186,000.

Universal Security Instruments Company Profile

Universal Security Instruments, Inc (NYSE: UUU) is a manufacturer and marketer of home safety and security products based in Holbrook, New York. The company specializes in the design, development and distribution of devices intended to protect lives and property, servicing both residential and commercial end users.

Its product portfolio includes photoelectric and ionization smoke alarms, carbon monoxide detectors, combination smoke/CO units, fire extinguishers and fire escape ladders. Additional offerings extend to weather radios and environmental sensors, all engineered to meet or exceed applicable UL, ANSI and NFPA safety standards.

Universal Security Instruments distributes its products primarily across the United States and Canada through a network of mass merchants, independent electrical distributors, home improvement centers and e-commerce platforms.