Unusual Machines (NYSEAMERICAN:UMAC) Earns Buy Rating from Analysts at Litchfield Hills Research

Research analysts at Litchfield Hills Research began coverage on shares of Unusual Machines (NYSEAMERICAN:UMAC) in a research note issued to investors on Wednesday,Benzinga reports. The brokerage set a “buy” rating and a $20.00 price target on the stock. Litchfield Hills Research’s target price would indicate a potential upside of 74.98% from the company’s current price.

Separately, Maxim Group assumed coverage on Unusual Machines in a research note on Wednesday, December 18th. They issued a “buy” rating and a $18.00 target price on the stock.

Unusual Machines Price Performance

NYSEAMERICAN:UMAC traded up $0.47 during trading hours on Wednesday, hitting $11.43. The stock had a trading volume of 961,620 shares, compared to its average volume of 1,567,743. Unusual Machines has a one year low of $0.98 and a one year high of $23.62. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.24 and a quick ratio of 0.95.

Insider Transactions at Unusual Machines

In other news, Director Jeffrey M. Thompson sold 40,000 shares of the company’s stock in a transaction dated 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 approximately $4,123,697.60. This represents a 10.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 22.20% of the company’s stock.

Hedge Funds Weigh In On Unusual Machines

A number of large investors have recently modified their holdings of UMAC. Kieckhefer Group LLC bought a new position in Unusual Machines during the fourth quarter valued at approximately $242,000. Jane Street Group LLC purchased a new stake in shares of Unusual Machines in the 4th quarter valued at $298,000. OMERS ADMINISTRATION Corp bought a new position in shares of Unusual Machines during the 4th quarter valued at $209,000. NewEdge Advisors LLC purchased a new position in Unusual Machines in the 4th quarter worth $84,000. Finally, Geode Capital Management LLC raised its position in Unusual Machines by 329.3% in the 4th quarter. Geode Capital Management LLC now owns 43,214 shares of the company’s stock worth $727,000 after purchasing an additional 33,148 shares during the period.

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.