Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Receives Average Recommendation of “Buy” from Brokerages

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) has been given an average recommendation of “Buy” by the six research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $19.50.

Several equities analysts have recently weighed in on the company. ThinkEquity raised Unusual Machines to a “strong-buy” rating in a research report on Monday, November 17th. Jones Trading assumed coverage on Unusual Machines in a report on Monday. They issued a “buy” rating and a $20.00 price target for the company. Needham & Company LLC reissued a “buy” rating and set a $20.00 target price on shares of Unusual Machines in a research report on Friday, October 17th. Finally, Zacks Research upgraded Unusual Machines from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th.

Institutional Trading of Unusual Machines

A number of institutional investors have recently made changes to their positions in the business. BlueCrest Capital Management Ltd purchased a new position in Unusual Machines during the 3rd quarter worth $2,168,000. CIBC Private Wealth Group LLC raised its stake in Unusual Machines by 133.3% in the third quarter. CIBC Private Wealth Group LLC now owns 7,000 shares of the company’s stock valued at $106,000 after buying an additional 4,000 shares during the last quarter. Worth Venture Partners LLC acquired a new stake in Unusual Machines in the third quarter worth about $226,000. Wexford Capital LP purchased a new stake in shares of Unusual Machines during the third quarter worth about $40,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Unusual Machines during the third quarter worth about $1,875,000.

Unusual Machines Stock Up 2.8%

UMAC stock opened at $8.75 on Monday. The firm has a market capitalization of $322.70 million, a P/E ratio of -2.37 and a beta of 22.60. Unusual Machines has a 52 week low of $4.45 and a 52 week high of $23.62. The company has a fifty day simple moving average of $12.41 and a two-hundred day simple moving average of $10.20.

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.