Unusual Machines (NYSEAMERICAN:UMAC) Trading Up 16.6% – Should You Buy?

Unusual Machines, Inc. (NYSEAMERICAN:UMAC)’s stock price was up 16.6% on Monday . The stock traded as high as $15.45 and last traded at $15.9150. Approximately 1,431,540 shares were traded during trading, a decline of 57% from the average daily volume of 3,363,703 shares. The stock had previously closed at $13.65.

Analyst Ratings Changes

Several brokerages have recently commented on UMAC. JonesTrading began coverage on shares of Unusual Machines in a research report on Monday, December 1st. They set a “buy” rating and a $20.00 price target for the company. ThinkEquity upgraded shares of Unusual Machines to a “strong-buy” rating in a research report on Monday, November 17th. Finally, Needham & Company LLC restated a “buy” rating and issued a $20.00 price target on shares of Unusual Machines in a research report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Unusual Machines has a consensus rating of “Buy” and an average target price of $20.00.

Unusual Machines Stock Up 3.6%

The company has a market capitalization of $521.48 million, a P/E ratio of -3.83 and a beta of 22.20. The firm has a fifty day simple moving average of $14.22 and a 200-day simple moving average of $12.39.

Institutional Investors Weigh In On Unusual Machines

Large investors have recently made changes to their positions in the stock. Granahan Investment Management LLC acquired a new stake in shares of Unusual Machines during the fourth quarter worth $14,708,000. State Street Corp increased its holdings in Unusual Machines by 698.4% during the 4th quarter. State Street Corp now owns 966,184 shares of the company’s stock worth $12,309,000 after purchasing an additional 845,173 shares in the last quarter. Tudor Investment Corp ET AL raised its stake in shares of Unusual Machines by 201.0% in the 3rd quarter. Tudor Investment Corp ET AL now owns 1,207,460 shares of the company’s stock valued at $18,233,000 after purchasing an additional 806,359 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of Unusual Machines in the fourth quarter valued at about $2,521,000. Finally, Sei Investments Co. bought a new stake in shares of Unusual Machines in the third quarter valued at about $2,652,000.

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.