Unusual Machines, Inc.’s Lock-Up Period Will Expire Tomorrow (NYSEAMERICAN:UMAC)

Unusual Machines’ (NYSEAMERICAN:UMAC) lock-up period is set to expire on Monday, August 12th. Unusual Machines had issued 1,250,000 shares in its initial public offering on February 14th. The total size of the offering was $5,000,000 based on an initial share price of $4.00. After the expiration of Unusual Machines’ lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Analysts Set New Price Targets

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

Unusual Machines Price Performance

Shares of Unusual Machines stock opened at $2.00 on Friday. 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 has a 12 month low of $0.98 and a 12 month high of $5.54.

Unusual Machines (NYSEAMERICAN:UMAC) last issued its earnings results on Wednesday, May 15th. The company reported ($0.18) EPS for the quarter. The business had revenue of $0.62 million for the quarter.

Institutional Investors Weigh In On Unusual Machines

A hedge fund recently bought a new stake in Unusual Machines stock. Rathbones Group PLC bought a new stake in Unusual Machines, Inc. (NYSEAMERICAN:UMAC) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 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 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.