Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Sees Large Growth in Short Interest

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

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Unusual Machines

A number of large investors have recently bought and sold shares of the company. Signaturefd LLC purchased a new stake in Unusual Machines in the 4th quarter worth approximately $25,000. NewEdge Advisors LLC purchased a new position in shares of Unusual Machines in the 4th quarter valued at about $84,000. SBI Securities Co. Ltd. purchased a new position in shares of Unusual Machines during the 4th quarter valued at approximately $141,000. OMERS ADMINISTRATION Corp acquired a new position in Unusual Machines during the fourth quarter worth $209,000. Finally, Kieckhefer Group LLC purchased a new position in Unusual Machines during the fourth quarter valued at $242,000.

Unusual Machines Trading Down 4.3 %

UMAC opened at $6.86 on Thursday. The company has a 50-day moving average of $11.28. Unusual Machines has a 1 year low of $0.98 and a 1 year high of $23.62. 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 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.