Unusual Machines (NYSEAMERICAN:UMAC) Shares Down 9.5% – Time to Sell?

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) was down 9.5% during mid-day trading on Wednesday . The stock traded as low as $14.60 and last traded at $13.9440. Approximately 214,695 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 4,251,632 shares. The stock had previously closed at $15.41.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Jones Trading started coverage on Unusual Machines in a research note on Monday, December 1st. They set a “buy” rating and a $20.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of Unusual Machines in a research note on Tuesday, January 13th. Finally, ThinkEquity upgraded Unusual Machines to a “strong-buy” rating in a research note on Monday, November 17th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $20.00.

Unusual Machines Stock Down 18.1%

The firm has a 50-day moving average price of $13.07 and a two-hundred day moving average price of $12.02. The company has a market capitalization of $465.57 million, a P/E ratio of -3.42 and a beta of 22.33.

Hedge Funds Weigh In On Unusual Machines

Institutional investors have recently modified their holdings of the business. Tudor Investment Corp ET AL increased its position in shares of Unusual Machines by 201.0% during the third quarter. Tudor Investment Corp ET AL now owns 1,207,460 shares of the company’s stock worth $18,233,000 after buying an additional 806,359 shares during the period. Sei Investments Co. bought a new position in shares of Unusual Machines in the 3rd quarter worth $2,652,000. UBS Group AG grew its position in Unusual Machines by 410.0% in the 4th quarter. UBS Group AG now owns 200,329 shares of the company’s stock valued at $2,552,000 after purchasing an additional 161,048 shares during the period. Jump Financial LLC acquired a new position in Unusual Machines during the second quarter worth $1,251,000. Finally, BlueCrest Capital Management Ltd bought a new position in shares of Unusual Machines in the third quarter valued at $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.