SBI Securities Co. Ltd. Grows Position in Unusual Machines, Inc. $UMAC

SBI Securities Co. Ltd. raised its stake in shares of Unusual Machines, Inc. (NYSEAMERICAN:UMAC) by 159.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,461 shares of the company’s stock after purchasing an additional 17,510 shares during the period. SBI Securities Co. Ltd. owned 0.09% of Unusual Machines worth $244,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in UMAC. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Unusual Machines during the 1st quarter valued at $27,000. Covestor Ltd acquired a new position in Unusual Machines in the first quarter valued at $85,000. NTV Asset Management LLC acquired a new position in Unusual Machines in the second quarter valued at $86,000. FNY Investment Advisers LLC purchased a new stake in Unusual Machines during the second quarter valued at about $98,000. Finally, Allworth Financial LP acquired a new stake in Unusual Machines during the second quarter worth about $125,000.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on UMAC shares. Zacks Research raised Unusual Machines from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price target on shares of Unusual Machines in a research report on Friday, October 17th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.33.

Unusual Machines Stock Down 3.1%

NYSEAMERICAN UMAC opened at $9.35 on Friday. Unusual Machines, Inc. has a fifty-two week low of $2.34 and a fifty-two week high of $23.62. The business has a 50 day moving average price of $12.89 and a two-hundred day moving average price of $9.97. The stock has a market cap of $344.83 million, a PE ratio of -2.53 and a beta of 22.22.

Unusual Machines 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.