Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Short Interest Update

Unusual Machines, Inc. (NYSEAMERICAN:UMAC - Get Free Report) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 1,470,000 shares, a growth of 34.9% from the March 15th total of 1,090,000 shares. Approximately 10.9% of the company's shares are short sold. Based on an average daily trading volume, of 1,210,000 shares, the short-interest ratio is presently 1.2 days.

Wall Street Analyst Weigh In

Separately, Litchfield Hills Research started coverage on shares of Unusual Machines in a report on Wednesday, February 19th. They set a "buy" rating and a $20.00 target price for the company.

Unusual Machines Stock Up 20.9 %

UMAC traded up $1.11 during trading on Thursday, reaching $6.41. The company's stock had a trading volume of 1,093,456 shares, compared to its average volume of 1,474,300. The company's fifty day moving average price is $7.20 and its 200-day moving average price is $7.21. Unusual Machines has a 52-week low of $0.98 and a 52-week high of $23.62. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.24 and a quick ratio of 0.95.

Insider Buying and Selling

In other news, CFO Brian Joseph Hoff sold 83,775 shares of Unusual Machines stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $5.70, for a total value of $477,517.50. Following the transaction, the chief financial officer now directly owns 359,225 shares in the company, valued at approximately $2,047,582.50. This trade represents a 18.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 22.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Unusual Machines

A number of hedge funds and other institutional investors have recently modified their holdings of UMAC. Geode Capital Management LLC increased its position in Unusual Machines by 329.3% during the fourth quarter. Geode Capital Management LLC now owns 43,214 shares of the company's stock worth $727,000 after buying an additional 33,148 shares in the last quarter. Jane Street Group LLC acquired a new stake in Unusual Machines during the 4th quarter worth approximately $298,000. Kieckhefer Group LLC acquired a new position in Unusual Machines during the fourth quarter valued at approximately $242,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Unusual Machines in the first quarter worth $80,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in Unusual Machines in the 4th quarter worth approximately $209,000.

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.