Uniroyal Global Engineered Products Inc (OTCMKTS:UNIR) Releases Q1 Earnings
On Friday the Uniroyal Global Engineered Products Inc (OTCMKTS:UNIR) stock was trading in a range but at the same time investors need to note that the company announced its financial results for the first fiscal quarter on the same day.
Market Stats
On Friday, UNIR stock ended flat at $1.60 with more than 100 shares, compared to its average volume of 265 shares. The stock moved within a range of $1.6000 – 1.6000 after opening trading at $1.60.
Earnings Review
In this situation, it might be the right time for investors to take a closer look at the company’s performance in the quarter that ended on April 3, 2022. The net sales for the quarter stood at $20,070,551 and that reflected a decline of as much as 8.3% from the net sales in the prior year period.
On the other hand, the net income declined as well and went down to $545,356 during the quarter. In the prior year period, the company had managed to generate net income of $1,036,001, however, it is also necessary to remember that it had also included non-recurring incomes. Hence, it can be seen that Uniroyal Global Engineered Products did not have a particularly great quarter and perhaps investors may be thankful that the stock did not go through a major selloff. However, it is now going to be interesting to see if the stock does get any action today.
Traders Corner
UNIR stock is trading below the 20-Day and 50-Day Moving averages of $1.68 and $1.70 respectively. However, the stock is trading above the 200-Day moving average of $1.43.
