Short Interest in Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Expands By 3,305.1%

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) was the target of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 732,100 shares, a growth of 3,305.1% from the November 15th total of 21,500 shares. Currently, 15.3% of the company’s stock are sold short. Based on an average trading volume of 3,070,000 shares, the days-to-cover ratio is presently 0.2 days.

Unusual Machines Stock Up 25.4 %

NYSEAMERICAN:UMAC traded up $2.25 during mid-day trading on Friday, hitting $11.10. 6,761,308 shares of the company’s stock traded hands, compared to its average volume of 1,096,684. The company has a quick ratio of 0.95, a current ratio of 2.24 and a debt-to-equity ratio of 0.16. Unusual Machines has a twelve month low of $0.98 and a twelve month high of $23.62.

Insider Activity

In other Unusual Machines news, Director Robert Paul Lowry purchased 32,895 shares of Unusual Machines stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average cost of $1.52 per share, with a total value of $50,000.40. Following the completion of the transaction, the director now owns 73,502 shares in the company, valued at approximately $111,723.04. This trade represents a 81.01 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Allan Thomas Evans acquired 65,789 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average price of $1.52 per share, with a total value of $99,999.28. Following the acquisition, the chief executive officer now owns 90,789 shares in the company, valued at approximately $137,999.28. The trade was a 263.16 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 22.20% of the company’s stock.

Hedge Funds Weigh In On Unusual Machines

A hedge fund recently bought a new stake in Unusual Machines stock. Rathbones Group PLC purchased a new stake in shares of Unusual Machines, Inc. (NYSEAMERICAN:UMAC) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 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.