Unusual Machines (NYSEAMERICAN:UMAC) Coverage Initiated at Maxim Group

Stock analysts at Maxim Group started coverage on shares of Unusual Machines (NYSEAMERICAN:UMAC) in a report released on Wednesday,Benzinga reports. The firm set a “buy” rating and a $18.00 price target on the stock. Maxim Group’s price objective would indicate a potential upside of 60.28% from the company’s previous close.

Unusual Machines Price Performance

Shares of UMAC stock opened at $11.23 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 2.24 and a debt-to-equity ratio of 0.16. Unusual Machines has a fifty-two week low of $0.98 and a fifty-two week high of $23.62.

Insider Buying and Selling at Unusual Machines

In other Unusual Machines news, CEO Allan Thomas Evans acquired 65,789 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average cost 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. The trade was a 263.16 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jeffrey M. Thompson sold 40,000 shares of the 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. 22.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Unusual Machines stock. Rathbones Group PLC bought a new stake in Unusual Machines, Inc. (NYSEAMERICAN:UMAC) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 42,000 shares of the company’s stock, valued at approximately $55,000. Rathbones Group PLC owned 0.45% of Unusual Machines at the end of the most recent reporting period.

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.