Unusual Machines (NYSEAMERICAN:UMAC) Now Covered by Maxim Group

Maxim Group began coverage on shares of Unusual Machines (NYSEAMERICAN:UMAC) in a research note published on Wednesday, Marketbeat reports. The firm issued a buy rating and a $18.00 price target on the stock.

Unusual Machines Stock Performance

UMAC stock opened at $11.60 on Wednesday. Unusual Machines has a twelve month low of $0.98 and a twelve month high of $23.62. The company has a quick ratio of 0.95, a current ratio of 2.24 and a debt-to-equity ratio of 0.16.

Insiders Place Their Bets

In related news, CEO Allan Thomas Evans purchased 65,789 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were purchased 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 directly owns 90,789 shares of the company’s stock, valued at approximately $137,999.28. This represents a 263.16 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey M. Thompson sold 40,000 shares of Unusual Machines 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 sale, 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 disclosure for this sale can be found here. Corporate insiders own 22.20% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Unusual Machines stock. Rathbones Group PLC acquired a new position in Unusual Machines, Inc. (NYSEAMERICAN:UMAC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 42,000 shares of the company’s stock, valued at approximately $55,000. Rathbones Group PLC owned approximately 0.45% of Unusual Machines at the end of the most recent quarter.

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.