Yesterday, the Scott’s Liquid Gold Inc (OTCMKTS:SLGD) stock was in considerable focus among investors after the company announced its financial results for fiscal year 2021 and the fourth quarter. It seems that investors were fairly impressed with the company’s performance and the stock ended the day with gains of as much as 5% as a consequence.
On Thursday, SLGD stock gained 4.72% to $1.11 with 400 shares, compared to its average volume of 4.3K shares. The stock moved within a range of $1.1100 – 1.1100 after opening trade at $1.11.
Scott’s Liquid Gold-Inc. Reports 2021 Results
In light of such a move, it may now be a good time for investors to perhaps take a look at some of the highlights from the company’s financial results. In the fourth quarter, Scott’s Liquid Gold managed to bring in net sales to the tune of as much as $8.9 million and that was lower than the $9.1 million that it had generated back in the same quarter in 2020.
On the other hand, the net losses for the fourth quarter came in at $7.3 million. For the fiscal year 2021, Scott’s Liquid Gold managed to generate sales of as much as $35.9 million and that was considerably higher than the net sales of $30.2 million in the 2020 fiscal year. The company suffered net losses of $11.1 million for the fiscal year. It now remains to be seen if the stock can add to its gains today.
“In 2021, we continued to face supply chain disruptions that impacted sales and increased logistics costs,” said Tisha Pedrazzini, President of Scott’s. “Despite these challenges, we made progress in reducing overhead expenses and simplifying our supply chain and 3PL networks. We have positioned our highest potential brands for growth by focusing on innovation with new products recently launched on Amazon.”
SLGD stock is trading below the 20-Day and 50-Day Moving averages of $1.09 and $1.15 respectively. Moreover, the stock is trading is the neutral zone with RSI stands at 44.