Unusual Machines (NYSEAMERICAN:UMAC) Shares Gap Down – What’s Next?

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) shares gapped down before the market opened on Tuesday . The stock had previously closed at $18.51, but opened at $17.26. Unusual Machines shares last traded at $18.7640, with a volume of 1,286,905 shares changing hands.

Analyst Ratings Changes

UMAC has been the topic of several recent analyst reports. Zacks Research raised Unusual Machines from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. ThinkEquity upgraded shares of Unusual Machines to a “strong-buy” rating in a report on Monday, November 17th. Jones Trading began coverage on shares of Unusual Machines in a research note on Monday, December 1st. They issued a “buy” rating and a $20.00 target price for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of Unusual Machines in a research note on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $20.00.

Unusual Machines Stock Down 0.2%

The firm has a 50-day moving average of $11.52 and a two-hundred day moving average of $11.57. The company has a market capitalization of $680.99 million, a PE ratio of -4.90 and a beta of 22.32.

Institutional Trading of Unusual Machines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UMAC. Harbor Capital Advisors Inc. purchased a new position in Unusual Machines in the fourth quarter valued at $578,000. FNY Investment Advisers LLC grew its position in shares of Unusual Machines by 293.4% during the 4th quarter. FNY Investment Advisers LLC now owns 120,001 shares of the company’s stock valued at $1,528,000 after acquiring an additional 89,500 shares during the period. Compagnie Lombard Odier SCmA purchased a new position in shares of Unusual Machines in the 4th quarter valued at about $261,000. Moody National Bank Trust Division acquired a new position in Unusual Machines in the 4th quarter worth about $549,000. Finally, Tudor Investment Corp ET AL boosted its position in Unusual Machines by 201.0% during the third quarter. Tudor Investment Corp ET AL now owns 1,207,460 shares of the company’s stock worth $18,233,000 after purchasing an additional 806,359 shares in the last quarter.

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.