Unusual Machines, Inc. (NYSEAMERICAN:UMAC – Get Free Report) was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 15,000 shares, a growth of 26.1% from the July 15th total of 11,900 shares. Based on an average trading volume of 119,300 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.2% of the company’s stock are sold short.
Institutional Trading of Unusual Machines
An institutional investor recently bought a new position in Unusual Machines stock. Rathbones Group PLC acquired a new stake in Unusual Machines, Inc. (NYSEAMERICAN:UMAC – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 42,000 shares of the company’s stock, valued at approximately $55,000. Rathbones Group PLC owned approximately 0.45% of Unusual Machines at the end of the most recent quarter.
Wall Street Analysts Forecast Growth
Separately, ThinkEquity assumed coverage on Unusual Machines in a research report on Monday, June 17th. They issued a “buy” rating and a $4.00 target price on the stock.
Unusual Machines Stock Down 12.1 %
NYSEAMERICAN UMAC traded down $0.20 during mid-day trading on Friday, hitting $1.45. The stock had a trading volume of 360,973 shares, compared to its average volume of 147,463. Unusual Machines has a twelve month low of $0.98 and a twelve month high of $5.54. 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 (NYSEAMERICAN:UMAC – Get Free Report) last posted its quarterly earnings results on Wednesday, May 15th. The company reported ($0.18) earnings per share for the quarter. The firm had revenue of $0.62 million for the quarter.
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.
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