Unusual Machines (NYSEAMERICAN:UMAC) Sets New 12-Month High – Still a Buy?

Unusual Machines, Inc. (NYSEAMERICAN:UMACGet Free Report)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $20.80 and last traded at $19.72, with a volume of 3248526 shares. The stock had previously closed at $18.50.

Unusual Machines News Roundup

Here are the key news stories impacting Unusual Machines this week:

Wall Street Analyst Weigh In

UMAC has been the subject of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of Unusual Machines in a report on Monday. JonesTrading assumed coverage on shares of Unusual Machines in a report on Monday, December 1st. They set a “buy” rating and a $20.00 price target on the stock. 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, two have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Unusual Machines currently has a consensus rating of “Buy” and an average price target of $20.00.

View Our Latest Research Report on UMAC

Unusual Machines Stock Performance

The company’s 50-day moving average price is $15.02 and its 200 day moving average price is $12.78. The stock has a market cap of $757.15 million, a PE ratio of -24.44 and a beta of 22.23.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP purchased a new position in shares of Unusual Machines during the 2nd quarter worth $125,000. SBI Securities Co. Ltd. raised its holdings in Unusual Machines by 159.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 28,461 shares of the company’s stock worth $244,000 after purchasing an additional 17,510 shares during the period. Geode Capital Management LLC lifted its position in Unusual Machines by 89.1% during the second quarter. Geode Capital Management LLC now owns 222,927 shares of the company’s stock valued at $1,911,000 after purchasing an additional 105,020 shares in the last quarter. Connective Capital Management LLC purchased a new position in Unusual Machines during the second quarter valued at $636,000. Finally, Jump Financial LLC bought a new stake in Unusual Machines during the second quarter valued at about $1,251,000.

About Unusual Machines

(Get Free Report)

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.

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