StockNews.com Begins Coverage on Universal Security Instruments (NYSE:UUU)

StockNews.com assumed coverage on shares of Universal Security Instruments (NYSE:UUU) in a report released on Wednesday. The brokerage set a “hold” rating on the stock.

Universal Security Instruments Price Performance

NYSE UUU opened at $1.98 on Wednesday. The stock’s fifty day moving average price is $2.21. Universal Security Instruments has a 1 year low of $1.11 and a 1 year high of $2.47. The company has a market capitalization of $4.58 million, a price-to-earnings ratio of -3.54 and a beta of 0.74.

Hedge Funds Weigh In On Universal Security Instruments

A hedge fund recently bought a new stake in Universal Security Instruments stock. Raymond James Financial Inc. purchased a new stake in Universal Security Instruments, Inc. (NYSE:UUU) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 73,513 shares of the company’s stock, valued at approximately $174,000. Raymond James Financial Inc. owned approximately 3.18% of Universal Security Instruments as of its most recent filing with the Securities & Exchange Commission.

About Universal Security Instruments

Universal Security Instruments, Inc, together with its subsidiary, engages in the marketing and distribution of safety and security products in the United States. The company offers a line of safety alarms units, including replaceable batteries, sealed batteries, and battery backup alarms; and smoke alarms, which include hearing impaired and heat alarms, as well as carbon monoxide alarms, door chimes, ventilation products, ground fault circuit interrupters, and other electrical devices under the UNIVERSAL and USI Electric trade names.