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,Benzinga reports. The brokerage issued a buy rating and a $20.00 price objective on the stock.

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

Unusual Machines Stock Performance

Shares of NYSEAMERICAN UMAC opened at $11.47 on Wednesday. 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 has a 1-year low of $0.98 and a 1-year high of $23.62.

Insiders Place Their Bets

In other Unusual Machines news, Director Jeffrey M. Thompson sold 40,000 shares of Unusual Machines stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $12.65, for a total transaction of $506,000.00. Following the completion of the transaction, the director now owns 325,984 shares in the company, valued at approximately $4,123,697.60. The trade was a 10.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 22.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Kieckhefer Group LLC bought a new position in shares of Unusual Machines during the fourth quarter valued at about $242,000. SBI Securities Co. Ltd. bought a new stake in Unusual Machines in the 4th quarter worth about $141,000. Signaturefd LLC purchased a new stake in Unusual Machines in the 4th quarter valued at about $25,000. Geode Capital Management LLC lifted its position in shares of Unusual Machines by 329.3% during the 4th quarter. Geode Capital Management LLC now owns 43,214 shares of the company’s stock worth $727,000 after buying an additional 33,148 shares in the last quarter. Finally, NewEdge Advisors LLC purchased a new position in shares of Unusual Machines in the 4th quarter worth approximately $84,000.

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.