Universal Electronics (NASDAQ:UEIC) Shares Gap Down on Analyst Downgrade

Universal Electronics Inc. (NASDAQ:UEIC) shares gapped down prior to trading on Friday after B. Riley lowered their price target on the stock from $74.00 to $71.00. The stock had previously closed at $58.57, but opened at $54.88. B. Riley currently has a buy rating on the stock. Universal Electronics shares last traded at $55.56, with a volume of 3,157 shares changing hands.