Unusual Machines (NYSEAMERICAN:UMAC) Trading Up 12.5% – Here’s What Happened

Shares of Unusual Machines, Inc. (NYSEAMERICAN:UMAC) shot up 12.5% during trading on Monday . The stock traded as high as $15.20 and last traded at $15.2720. 2,261,218 shares were traded during mid-day trading, a decline of 21% from the average session volume of 2,856,557 shares. The stock had previously closed at $13.57.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Jones Trading began coverage on shares of Unusual Machines in a report on Monday, December 1st. They issued a “buy” rating and a $20.00 price target on the stock. Zacks Research raised shares of Unusual Machines from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. ThinkEquity upgraded shares of Unusual Machines to a “strong-buy” rating in a research note on Monday, November 17th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Unusual Machines in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Unusual Machines presently has an average rating of “Buy” and a consensus target price of $20.00.

Unusual Machines Trading Down 8.3%

The firm has a market cap of $541.40 million, a price-to-earnings ratio of -3.98 and a beta of 22.32. The firm’s 50-day moving average is $10.95 and its 200-day moving average is $11.06.

Institutional Trading of Unusual Machines

Institutional investors and hedge funds have recently modified their holdings of the business. Tudor Investment Corp ET AL grew its position in Unusual Machines by 201.0% during the third quarter. Tudor Investment Corp ET AL now owns 1,207,460 shares of the company’s stock valued at $18,233,000 after buying an additional 806,359 shares during the period. Sei Investments Co. bought a new stake in shares of Unusual Machines in the 3rd quarter worth approximately $2,652,000. Jump Financial LLC purchased a new position in Unusual Machines in the second quarter valued at approximately $1,251,000. BlueCrest Capital Management Ltd bought a new position in Unusual Machines during the third quarter valued at $2,168,000. Finally, Vanguard Group Inc. increased its position in Unusual Machines by 13.3% in the third quarter. Vanguard Group Inc. now owns 1,162,795 shares of the company’s stock worth $17,558,000 after buying an additional 136,696 shares during the last quarter.

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