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

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

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

Unusual Machines Trading Down 7.8 %

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

Insider Activity at Unusual Machines

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

Hedge Funds Weigh In On Unusual Machines

Hedge funds have recently modified their holdings of the stock. Signaturefd LLC bought a new stake in Unusual Machines in the 4th quarter valued at $25,000. NewEdge Advisors LLC purchased a new position in shares of Unusual Machines during the fourth quarter valued at about $84,000. SBI Securities Co. Ltd. bought a new stake in shares of Unusual Machines in the fourth quarter worth about $141,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Unusual Machines in the fourth quarter worth about $209,000. Finally, Kieckhefer Group LLC purchased a new stake in shares of Unusual Machines in the fourth quarter worth about $242,000.

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.