Unusual Machines (NYSEAMERICAN:UMAC) Coverage Initiated by Analysts at Jones Trading

Jones Trading began coverage on shares of Unusual Machines (NYSEAMERICAN:UMAC) in a report issued on Monday,Benzinga reports. The brokerage set a “buy” rating and a $20.00 price target on the stock. Jones Trading’s price target would suggest a potential upside of 128.57% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price objective on shares of Unusual Machines in a research note on Friday, October 17th. ThinkEquity upgraded Unusual Machines to a “strong-buy” rating in a research report on Monday, November 17th. Finally, Zacks Research upgraded shares of Unusual Machines from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Unusual Machines currently has an average rating of “Buy” and an average price target of $19.50.

Unusual Machines Stock Performance

UMAC opened at $8.75 on Monday. The company has a fifty day moving average price of $12.41 and a two-hundred day moving average price of $10.20. The firm has a market capitalization of $322.70 million, a PE ratio of -2.37 and a beta of 22.60. Unusual Machines has a 52 week low of $4.45 and a 52 week high of $23.62.

Hedge Funds Weigh In On Unusual Machines

Several institutional investors have recently modified their holdings of the business. Covestor Ltd acquired a new position in shares of Unusual Machines in the 1st quarter valued at approximately $85,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Unusual Machines in the first quarter valued at approximately $27,000. NTV Asset Management LLC bought a new stake in shares of Unusual Machines during the second quarter worth $86,000. FNY Investment Advisers LLC acquired a new stake in shares of Unusual Machines during the second quarter worth $98,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Unusual Machines in the 2nd quarter valued at $142,000.

About Unusual Machines

Unusual Machines, Inc designs, manufactures, and sells ultra-low latency video goggles for drone pilots. It operates a drone-focused e-commerce marketplace. The company serves drone pilots, hobbyists, and recreational services. The company was formerly known as AerocarveUS Corporation and changed its name to Unusual Machines, Inc in July 2022.