Short Interest in Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Increases By 20.0%

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) was the target of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 1,260,000 shares, an increase of 20.0% from the February 13th total of 1,050,000 shares. Based on an average daily trading volume, of 2,570,000 shares, the days-to-cover ratio is currently 0.5 days. Currently, 10.4% of the company’s stock are sold short.

Unusual Machines Stock Performance

Shares of UMAC stock traded down $0.55 during trading hours on Tuesday, hitting $7.40. 733,771 shares of the company were exchanged, compared to its average volume of 1,414,724. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.95 and a current ratio of 2.24. Unusual Machines has a one year low of $0.98 and a one year high of $23.62. The firm has a 50-day moving average price of $11.68.

Analyst Ratings Changes

UMAC has been the topic of several recent research reports. Litchfield Hills Research started coverage on Unusual Machines in a research report on Wednesday, February 19th. They set a “buy” rating and a $20.00 price target on the stock. Maxim Group began coverage on shares of Unusual Machines in a research note on Wednesday, December 18th. They issued a “buy” rating and a $18.00 target price for the company.

Institutional Investors Weigh In On Unusual Machines

A number of institutional investors have recently made changes to their positions in the company. Kieckhefer Group LLC bought a new position in Unusual Machines during the fourth quarter worth $242,000. SBI Securities Co. Ltd. acquired a new stake in shares of Unusual Machines during the fourth quarter worth $141,000. Jane Street Group LLC bought a new position in shares of Unusual Machines in the 4th quarter worth about $298,000. OMERS ADMINISTRATION Corp bought a new position in shares of Unusual Machines in the 4th quarter worth about $209,000. Finally, NewEdge Advisors LLC acquired a new position in shares of Unusual Machines in the 4th quarter valued at about $84,000.

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.