Unusual Machines’ (UMAC) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Unusual Machines (NYSEAMERICAN:UMAC) in a research note issued to investors on Tuesday,Benzinga reports. Needham & Company LLC currently has a $20.00 price objective on the stock.

A number of other brokerages also recently weighed in on UMAC. Zacks Research raised shares of Unusual Machines from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Jones Trading began coverage on shares of Unusual Machines in a report on Monday, December 1st. They issued a “buy” rating and a $20.00 price target for the company. Finally, ThinkEquity raised Unusual Machines to a “strong-buy” rating in a research report on Monday, November 17th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $20.00.

Unusual Machines Trading Up 5.6%

NYSEAMERICAN UMAC opened at $17.46 on Tuesday. The firm has a market cap of $643.92 million, a price-to-earnings ratio of -4.73 and a beta of 22.32. Unusual Machines has a 1-year low of $4.45 and a 1-year high of $17.82. The company has a 50 day moving average of $11.23 and a 200-day moving average of $11.38.

Institutional Investors Weigh In On Unusual Machines

A number of institutional investors have recently made changes to their positions in the company. Moody National Bank Trust Division bought a new stake in shares of Unusual Machines in the fourth quarter valued at about $549,000. FNY Investment Advisers LLC lifted its stake in shares of Unusual Machines by 165.1% in the 3rd quarter. FNY Investment Advisers LLC now owns 30,501 shares of the company’s stock valued at $460,000 after acquiring an additional 18,995 shares during the last quarter. Tudor Investment Corp ET AL raised its holdings in Unusual Machines by 201.0% in the 3rd quarter. Tudor Investment Corp ET AL now owns 1,207,460 shares of the company’s stock valued at $18,233,000 after buying an additional 806,359 shares during the last quarter. Allworth Financial LP increased its position in Unusual Machines by 105.9% during the 3rd quarter. Allworth Financial LP now owns 29,948 shares of the company’s stock valued at $452,000 after purchasing an additional 15,405 shares during the period. Finally, BlueCrest Capital Management Ltd bought a new position in shares of Unusual Machines in the 3rd quarter worth about $2,168,000.

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. Unusual Machines, Inc was incorporated in 2019 and is based in Orlando, Florida.