Unusual Machines (NYSEAMERICAN:UMAC) Shares Gap Up – Still a Buy?

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) gapped up prior to trading on Thursday . The stock had previously closed at $14.68, but opened at $15.37. Unusual Machines shares last traded at $15.9220, with a volume of 3,056,147 shares.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on UMAC shares. Needham & Company LLC reiterated a “buy” rating on shares of Unusual Machines in a research report on Monday. Jones Trading began coverage on shares of Unusual Machines in a research note on Monday, December 1st. They set a “buy” rating and a $20.00 target price for the company. Zacks Research upgraded shares of Unusual Machines from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Finally, ThinkEquity upgraded shares of Unusual Machines to a “strong-buy” rating in a research note on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $20.00.

Unusual Machines Trading Up 4.2%

The company has a market cap of $564.01 million, a price-to-earnings ratio of -4.17 and a beta of 22.32. The business has a fifty day moving average of $10.93 and a two-hundred day moving average of $11.09.

Hedge Funds Weigh In On Unusual Machines

Large investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC grew its position in shares of Unusual Machines by 165.1% in the third quarter. FNY Investment Advisers LLC now owns 30,501 shares of the company’s stock valued at $460,000 after purchasing an additional 18,995 shares during the period. Tudor Investment Corp ET AL lifted its stake in Unusual Machines by 201.0% in the 3rd quarter. Tudor Investment Corp ET AL now owns 1,207,460 shares of the company’s stock valued at $18,233,000 after buying an additional 806,359 shares in the last quarter. Allworth Financial LP lifted its stake in Unusual Machines by 105.9% in the 3rd quarter. Allworth Financial LP now owns 29,948 shares of the company’s stock valued at $452,000 after buying an additional 15,405 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new stake in Unusual Machines in the 3rd quarter worth about $2,168,000. Finally, CIBC Private Wealth Group LLC increased its stake in Unusual Machines by 133.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 7,000 shares of the company’s stock worth $106,000 after buying an additional 4,000 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.