Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Sees Significant Growth in Short Interest

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 15,000 shares, a growth of 26.1% from the July 15th total of 11,900 shares. Based on an average trading volume of 119,300 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.2% of the company’s stock are sold short.

Institutional Trading of Unusual Machines

An institutional investor recently bought a new position in Unusual Machines stock. Rathbones Group PLC acquired a new stake in Unusual Machines, Inc. (NYSEAMERICAN:UMAC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 42,000 shares of the company’s stock, valued at approximately $55,000. Rathbones Group PLC owned approximately 0.45% of Unusual Machines at the end of the most recent quarter.

Wall Street Analysts Forecast Growth

Separately, ThinkEquity assumed coverage on Unusual Machines in a research report on Monday, June 17th. They issued a “buy” rating and a $4.00 target price on the stock.

Unusual Machines Stock Down 12.1 %

NYSEAMERICAN UMAC traded down $0.20 during mid-day trading on Friday, hitting $1.45. The stock had a trading volume of 360,973 shares, compared to its average volume of 147,463. Unusual Machines has a twelve month low of $0.98 and a twelve month high of $5.54. The company has a debt-to-equity ratio of 0.09, a current ratio of 8.86 and a quick ratio of 5.04.

Unusual Machines (NYSEAMERICAN:UMAC) last posted its quarterly earnings results on Wednesday, May 15th. The company reported ($0.18) earnings per share for the quarter. The firm had revenue of $0.62 million for the 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.