Unusual Machines (NYSEAMERICAN:UMAC) Coverage Initiated by Analysts at Litchfield Hills Research

Stock analysts at Litchfield Hills Research initiated coverage on shares of Unusual Machines (NYSEAMERICAN:UMAC) in a research report issued on Wednesday,Benzinga reports. The brokerage set a “buy” rating and a $20.00 price target on the stock. Litchfield Hills Research’s target price would suggest a potential upside of 74.98% from the company’s previous close.

Separately, Maxim Group started coverage on Unusual Machines in a research note on Wednesday, December 18th. They issued a “buy” rating and a $18.00 price objective for the company.

Unusual Machines Trading Up 4.3 %

Shares of UMAC traded up $0.47 on Wednesday, reaching $11.43. The company’s stock had a trading volume of 961,620 shares, compared to its average volume of 1,567,743. Unusual Machines has a twelve month low of $0.98 and a twelve month high of $23.62. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.95 and a current ratio of 2.24.

Insider Transactions at Unusual Machines

In related news, Director Jeffrey M. Thompson sold 40,000 shares of Unusual Machines stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $12.65, for a total value of $506,000.00. Following the sale, the director now owns 325,984 shares of the company’s stock, valued at approximately $4,123,697.60. The trade was a 10.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 22.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. OMERS ADMINISTRATION Corp purchased a new stake in shares of Unusual Machines during the 4th quarter valued at approximately $209,000. Jane Street Group LLC bought a new stake in Unusual Machines during the 4th quarter valued at $298,000. NewEdge Advisors LLC purchased a new stake in shares of Unusual Machines during the fourth quarter worth $84,000. Geode Capital Management LLC boosted its holdings in shares of Unusual Machines by 329.3% in the fourth quarter. Geode Capital Management LLC now owns 43,214 shares of the company’s stock worth $727,000 after acquiring an additional 33,148 shares during the period. Finally, Signaturefd LLC purchased a new position in shares of Unusual Machines in the fourth quarter valued at $25,000.

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.