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

Analysts at Maxim Group started coverage on shares of Unusual Machines (NYSEAMERICAN:UMAC) in a report issued on Wednesday, Marketbeat reports. The firm set a “buy” rating and a $18.00 price target on the stock. Maxim Group’s price target points to a potential upside of 70.62% from the company’s current price.

Unusual Machines Price Performance

UMAC stock opened at $10.55 on Wednesday. The company has a current ratio of 2.24, a quick ratio of 0.95 and a debt-to-equity ratio of 0.16. Unusual Machines has a 1-year low of $0.98 and a 1-year high of $23.62.

Insider Activity at Unusual Machines

In related news, CEO Allan Thomas Evans bought 65,789 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average price of $1.52 per share, with a total value of $99,999.28. Following the transaction, the chief executive officer now owns 90,789 shares in the company, valued at $137,999.28. This trade represents a 263.16 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey M. Thompson sold 40,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $12.65, for a total value of $506,000.00. Following 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 position. The disclosure for this sale can be found here. 22.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Unusual Machines

A hedge fund recently bought a new stake in Unusual Machines stock. Rathbones Group PLC bought a new stake in shares of Unusual Machines, Inc. (NYSEAMERICAN:UMAC) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 quarter.

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.