Unusual Machines (NYSEAMERICAN:UMAC) Trading Up 12.5% – Still a Buy?

Unusual Machines, Inc. (NYSEAMERICAN:UMAC)’s share price rose 12.5% during mid-day trading on Monday . The stock traded as high as $15.20 and last traded at $15.2720. Approximately 2,261,218 shares changed hands during trading, a decline of 21% from the average daily volume of 2,856,557 shares. The stock had previously closed at $13.57.

Wall Street Analysts Forecast Growth

Several research firms recently commented on UMAC. Jones Trading initiated coverage on shares of Unusual Machines in a report on Monday, December 1st. They set a “buy” rating and a $20.00 target price on the stock. Zacks Research raised shares of Unusual Machines from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. ThinkEquity upgraded shares of Unusual Machines to a “strong-buy” rating in a research note on Monday, November 17th. Finally, Needham & Company LLC reissued a “buy” rating on shares of Unusual Machines in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Unusual Machines has an average rating of “Buy” and an average target price of $20.00.

Unusual Machines Stock Performance

The stock has a fifty day moving average of $10.91 and a 200 day moving average of $10.96. The company has a market capitalization of $571.31 million, a P/E ratio of -4.21 and a beta of 22.32.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of UMAC. Connective Capital Management LLC purchased a new stake in Unusual Machines during the 2nd quarter valued at approximately $636,000. GWN Securities Inc. bought a new stake in Unusual Machines in the 2nd quarter valued at $246,000. Allworth Financial LP purchased a new stake in shares of Unusual Machines during the 2nd quarter worth approximately $125,000. Kieckhefer Group LLC grew its position in Unusual Machines by 330.6% in the third quarter. Kieckhefer Group LLC now owns 62,000 shares of the company’s stock worth $936,000 after acquiring an additional 47,600 shares in the last quarter. Finally, NTV Asset Management LLC purchased a new stake in Unusual Machines during the 2nd quarter valued at $86,000.

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. Unusual Machines, Inc was incorporated in 2019 and is based in Orlando, Florida.