Unusual Machines (NYSEAMERICAN:UMAC) Now Covered by Analysts at Maxim Group

Maxim Group assumed coverage on shares of Unusual Machines (NYSEAMERICAN:UMAC) in a research report report published on Wednesday, MarketBeat.com reports. The firm issued a buy rating and a $18.00 price target on the stock.

Unusual Machines Price Performance

Shares of NYSEAMERICAN:UMAC opened at $11.60 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.95 and a current ratio of 2.24. Unusual Machines has a 52-week low of $0.98 and a 52-week high of $23.62.

Insider Activity at Unusual Machines

In related news, Director Robert Paul Lowry purchased 32,895 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average price of $1.52 per share, for a total transaction of $50,000.40. Following the completion of the acquisition, the director now owns 73,502 shares of the company’s stock, valued at $111,723.04. This represents a 81.01 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Allan Thomas Evans bought 65,789 shares of Unusual Machines stock in a transaction dated Wednesday, October 30th. The stock was purchased at an average price of $1.52 per share, with a total value of $99,999.28. Following the purchase, the chief executive officer now owns 90,789 shares in the company, valued at approximately $137,999.28. This represents a 263.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 22.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Unusual Machines

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

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.