Unusual Machines (NYSEAMERICAN:UMAC) Research Coverage Started at Litchfield Hills Research

Litchfield Hills Research began coverage on shares of Unusual Machines (NYSEAMERICAN:UMAC) in a research note published on Wednesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $20.00 price objective on the stock.

Separately, Maxim Group initiated coverage on shares of Unusual Machines in a report on Wednesday, December 18th. They set a “buy” rating and a $18.00 target price for the company.

Unusual Machines Stock Down 7.8 %

Shares of Unusual Machines stock opened at $10.22 on Wednesday. Unusual Machines has a 1 year low of $0.98 and a 1 year high of $23.62. The company has a current ratio of 2.24, a quick ratio of 0.95 and a debt-to-equity ratio of 0.16.

Insider Activity at Unusual Machines

In other news, Director Jeffrey M. Thompson sold 40,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $12.65, for a total transaction of $506,000.00. Following the transaction, the director now directly owns 325,984 shares of the company’s stock, valued at $4,123,697.60. This represents a 10.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 22.20% of the stock is owned by insiders.

Institutional Trading of Unusual Machines

Large investors have recently made changes to their positions in the stock. Kieckhefer Group LLC purchased a new stake in Unusual Machines in the fourth quarter worth approximately $242,000. Jane Street Group LLC purchased a new position in shares of Unusual Machines in the 4th quarter worth $298,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Unusual Machines in the fourth quarter worth $209,000. NewEdge Advisors LLC bought a new stake in shares of Unusual Machines in the fourth quarter worth $84,000. Finally, Geode Capital Management LLC increased its position in Unusual Machines by 329.3% during the fourth quarter. Geode Capital Management LLC now owns 43,214 shares of the company’s stock valued at $727,000 after acquiring an additional 33,148 shares during the last quarter.

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.