Short Interest in Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Grows By 34.9%

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 1,470,000 shares, a growth of 34.9% from the March 15th total of 1,090,000 shares. Currently, 10.9% of the company’s shares are short sold. Based on an average daily volume of 1,210,000 shares, the short-interest ratio is currently 1.2 days.

Insider Activity at Unusual Machines

In other news, CFO Brian Joseph Hoff sold 83,775 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $5.70, for a total value of $477,517.50. Following the completion of the sale, the chief financial officer now owns 359,225 shares of the company’s stock, valued at approximately $2,047,582.50. This represents a 18.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 22.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Unusual Machines

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in shares of Unusual Machines by 329.3% during the fourth quarter. Geode Capital Management LLC now owns 43,214 shares of the company’s stock valued at $727,000 after buying an additional 33,148 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Unusual Machines in the fourth quarter valued at about $298,000. Kieckhefer Group LLC purchased a new position in shares of Unusual Machines in the fourth quarter worth about $242,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Unusual Machines during the fourth quarter worth about $209,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Unusual Machines during the fourth quarter worth about $141,000.

Analyst Upgrades and Downgrades

Separately, Litchfield Hills Research began coverage on Unusual Machines in a report on Wednesday, February 19th. They issued a “buy” rating and a $20.00 price target on the stock.

Unusual Machines Price Performance

NYSEAMERICAN:UMAC traded up $0.02 during midday trading on Friday, reaching $5.06. 337,817 shares of the stock traded hands, compared to its average volume of 1,477,561. Unusual Machines has a 12-month low of $0.98 and a 12-month high of $23.62. The business has a 50-day moving average of $7.60 and a two-hundred day moving average of $7.25. The company has a current ratio of 2.24, a quick ratio of 0.95 and a debt-to-equity ratio of 0.16.

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.