Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Short Interest Up 20.0% in February

Unusual Machines, Inc. (NYSEAMERICAN:UMAC - Get Free Report) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 1,260,000 shares, an increase of 20.0% from the February 13th total of 1,050,000 shares. Currently, 10.4% of the company's stock are short sold. Based on an average daily volume of 2,570,000 shares, the short-interest ratio is presently 0.5 days.

Wall Street Analysts Forecast Growth

UMAC has been the subject of several research analyst reports. Maxim Group started coverage on Unusual Machines in a report on Wednesday, December 18th. They issued a "buy" rating and a $18.00 price objective for the company. Litchfield Hills Research initiated coverage on shares of Unusual Machines in a report on Wednesday, February 19th. They set a "buy" rating and a $20.00 price objective for the company.

Unusual Machines Stock Up 6.5 %

UMAC stock traded up $0.45 during trading on Friday, reaching $7.34. The stock had a trading volume of 905,144 shares, compared to its average volume of 1,428,226. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.95 and a current ratio of 2.24. The firm's 50 day moving average is $10.84. Unusual Machines has a 52 week low of $0.98 and a 52 week high of $23.62.

Hedge Funds Weigh In On Unusual Machines

Institutional investors have recently made changes to their positions in the business. Signaturefd LLC purchased a new stake in Unusual Machines during the fourth quarter valued at approximately $25,000. NewEdge Advisors LLC purchased a new stake in shares of Unusual Machines in the 4th quarter worth $84,000. SBI Securities Co. Ltd. purchased a new stake in shares of Unusual Machines in the 4th quarter worth $141,000. OMERS ADMINISTRATION Corp bought a new position in Unusual Machines in the 4th quarter worth $209,000. Finally, Kieckhefer Group LLC purchased a new position in Unusual Machines during the fourth quarter valued at $242,000.

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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.