Scott’s Liquid Gold Inc (OTCMKTS:SLGD) Continues to Trend Lower: Down 10% in a Week

The earnings season can be a frenetic time for investors considering the number of companies which deliver their financial results every day. However, one needs to pick and choose the companies to look into and one of the companies that could be worth tracking is Scott’s Liquid Gold Inc (OTCMKTS:SLGD).

Market Action

On Monday, SLGD stock fell 3% at $1.65 with more than 13k shares, compared to its average volume of 4k shares. The stock has moved within a range of $1.6500 – 1.7500 after opening trade at $1.70.

Scott’s Liquid Gold-Inc. Reports Third Quarter Results

Yesterday, the company was in the news after it announced its financial results for the quarter that had concluded back on September 30, 2021 and the numbers did not seem to impress investors. The slide in the stock continued as it fell by 3% and took the decline over the course of the past week to as much as 10%.

In this regard, it should be noted that the company actually managed to boost its sales by as much as 18.5% year on year in the third quarter to $8.5 million. In the prior year period, the company had generated sales of $7.2 million. The rise in sales was primarily related to the easing on the pressures on supply chain that had been brought about by COVID 19 pandemic last year. Investors could do well to add the Scott’s Gold stock to their watch lists at this point.

Key Quote

“Over the last six months, we have undertaken a series of actions to improve operating performance, reduce costs, stabilize inventory levels, implement pricing initiatives, and position the Company for stronger performance and growth,” said Tisha Pedrazzini, President of Scott’s. “We continue to focus on the profitable growth of key brands in the skin and pet care categories while accelerating conversion in the e-commerce channel. We continue to sharpen our strategies by modernizing packaging, expanding our consumer base, innovating, and leveraging social media in new ways.”

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