16,566 Shares in Unusual Machines, Inc. $UMAC Acquired by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd bought a new position in shares of Unusual Machines, Inc. (NYSEAMERICAN:UMAC) in the second quarter, Holdings Channel reports. The fund bought 16,566 shares of the company’s stock, valued at approximately $142,000.

A number of other large investors have also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. boosted its holdings in Unusual Machines by 31.0% during the first quarter. SBI Securities Co. Ltd. now owns 10,951 shares of the company’s stock worth $70,000 after buying an additional 2,591 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in Unusual Machines during the first quarter worth approximately $27,000. NTV Asset Management LLC bought a new stake in Unusual Machines during the second quarter worth approximately $86,000. FNY Investment Advisers LLC bought a new stake in Unusual Machines during the second quarter worth approximately $98,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in Unusual Machines during the first quarter worth approximately $80,000.

Analyst Ratings Changes

A number of equities analysts recently commented on UMAC shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Unusual Machines in a research note on Friday, October 17th. Zacks Research raised shares of Unusual Machines from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.33.

Unusual Machines Stock Performance

Unusual Machines stock opened at $12.84 on Friday. The company has a 50 day moving average price of $12.17 and a 200 day moving average price of $9.19. Unusual Machines, Inc. has a 52 week low of $1.43 and a 52 week high of $23.62. The firm has a market capitalization of $425.00 million, a price-to-earnings ratio of -3.18 and a beta of 22.45.

Unusual Machines 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.