Litchfield Hills Research started coverage on shares of Unusual Machines (NYSEAMERICAN:UMAC - Free Report) in a report released on Wednesday, MarketBeat reports. The firm issued a buy rating and a $20.00 price target on the stock.
Separately, Maxim Group initiated coverage on shares of Unusual Machines in a research note on Wednesday, December 18th. They set a "buy" rating and a $18.00 price objective for the company.
Read Our Latest Stock Report on Unusual Machines
Unusual Machines Stock Down 2.0 %
NYSEAMERICAN UMAC traded down $0.22 on Wednesday, reaching $10.86. 355,517 shares of the stock traded hands, compared to its average volume of 1,509,952. Unusual Machines has a 12 month low of $0.98 and a 12 month high of $23.62. The company has a quick ratio of 0.95, a current ratio of 2.24 and a debt-to-equity ratio of 0.16.
Insider Buying and Selling at Unusual Machines
In other news, Director Jeffrey M. Thompson sold 40,000 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $12.65, for a total value of $506,000.00. Following the completion of the transaction, the director now directly owns 325,984 shares in the company, valued at $4,123,697.60. This trade represents a 10.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 22.20% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Unusual Machines
Several hedge funds have recently added to or reduced their stakes in UMAC. Kieckhefer Group LLC acquired a new stake in Unusual Machines during the fourth quarter valued at $242,000. Jane Street Group LLC purchased a new stake in shares of Unusual Machines during the 4th quarter worth about $298,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Unusual Machines during the 4th quarter valued at about $209,000. NewEdge Advisors LLC purchased a new position in shares of Unusual Machines in the 4th quarter valued at about $84,000. Finally, Geode Capital Management LLC raised its holdings in Unusual Machines by 329.3% in the 4th quarter. Geode Capital Management LLC now owns 43,214 shares of the company's stock worth $727,000 after purchasing an additional 33,148 shares during the period.
About Unusual Machines
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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.
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