Ubiquiti Inc. (UI) shares fell $49.51, or 8.63 percent, to $524.36 on Friday, despite the company reporting higher fourth-quarter profit and revenue.
The stock opened at $597.00 and traded between $515.00 and $595.00 during the session on the New York Stock Exchange. It has traded in a 52-week range of $440.00 to $1,099.99. Trading volume reached 0.20 million shares, compared with an average daily volume of 0.11 million shares.
Net income rose to $284.90 million, or $4.70 per share, from $266.70 million, or $4.41 per share, a year earlier. Adjusted earnings were $4.73 per share. Revenue increased 23.5 percent to $937.32 million from $759.15 million.
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