Looks a lot like the hydrometer that Cooper's used to ship with their kits at the beginning of 21st century. Mine reads 1.000 in 20C tap water. A friend bought the same kit about a month after me and his hydrometer was reading 1.002.
I'd suggest that with such a big error, the most sensible option is replacement.
I'd suggest that with such a big error, the most sensible option is replacement.