Short Interest in Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Drops By 63.3%

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) was the target of a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 360,600 shares, a drop of 63.3% from the December 31st total of 983,900 shares. Approximately 3.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 4,360,000 shares, the days-to-cover ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, Director Jeffrey M. Thompson sold 40,000 shares of the business’s 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 completion of the sale, the director now owns 325,984 shares in the company, valued at $4,123,697.60. The trade was a 10.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert Paul Lowry acquired 32,895 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average price of $1.52 per share, with a total value of $50,000.40. Following the acquisition, the director now directly owns 73,502 shares of the company’s stock, valued at $111,723.04. The trade was a 81.01 % increase in their position. The disclosure for this purchase can be found here. 22.20% of the stock is owned by corporate insiders.

Institutional Trading of Unusual Machines

A hedge fund recently bought a new stake in Unusual Machines stock. Kieckhefer Group LLC bought a new position in Unusual Machines, Inc. (NYSEAMERICAN:UMAC) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 14,400 shares of the company’s stock, valued at approximately $242,000. Kieckhefer Group LLC owned about 0.17% of Unusual Machines as of its most recent SEC filing.

Unusual Machines Price Performance

Unusual Machines stock traded down $0.33 during midday trading on Tuesday, reaching $11.74. The stock had a trading volume of 501,160 shares, compared to its average volume of 1,840,447. Unusual Machines has a 12 month low of $0.98 and a 12 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.

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.