Unusual Machines (NYSEAMERICAN:UMAC) Stock Price Up 6.5% – Here’s What Happened

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) shares traded up 6.5% on Thursday . The company traded as high as $13.86 and last traded at $14.2730. 630,135 shares were traded during trading, a decline of 83% from the average session volume of 3,660,148 shares. The stock had previously closed at $13.40.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on UMAC shares. ThinkEquity raised shares of Unusual Machines to a “strong-buy” rating in a research report on Monday, November 17th. Needham & Company LLC reissued a “buy” rating and set a $20.00 price target on shares of Unusual Machines in a research report on Tuesday, January 13th. Finally, JonesTrading began coverage on shares of Unusual Machines in a research note on Monday, December 1st. They issued a “buy” rating and a $20.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $20.00.

Unusual Machines Stock Performance

The firm has a market capitalization of $495.67 million, a P/E ratio of -3.64 and a beta of 22.33. The business’s fifty day moving average price is $13.77 and its two-hundred day moving average price is $12.24.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in UMAC. Connective Capital Management LLC purchased a new stake in shares of Unusual Machines during the second quarter worth about $636,000. GWN Securities Inc. purchased a new stake in Unusual Machines during the 2nd quarter worth approximately $246,000. Allworth Financial LP acquired a new position in Unusual Machines during the 2nd quarter valued at approximately $125,000. Kieckhefer Group LLC raised its holdings in shares of Unusual Machines by 330.6% in the third quarter. Kieckhefer Group LLC now owns 62,000 shares of the company’s stock worth $936,000 after buying an additional 47,600 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Unusual Machines in the second quarter worth $142,000.

Unusual Machines Company Profile

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. Unusual Machines, Inc was incorporated in 2019 and is based in Orlando, Florida.