Unusual Machines (NYSEAMERICAN:UMAC) Shares Gap Down – What’s Next?

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) gapped down before the market opened on Tuesday . The stock had previously closed at $15.50, but opened at $14.91. Unusual Machines shares last traded at $15.4830, with a volume of 555,685 shares.

Analyst Upgrades and Downgrades

Several analysts have recently commented on UMAC shares. ThinkEquity upgraded shares of Unusual Machines to a “strong-buy” rating in a research report on Monday, November 17th. Zacks Research raised Unusual Machines from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Jones Trading started coverage on shares of Unusual Machines in a research report on Monday, December 1st. They set a “buy” rating and a $20.00 price objective on the stock. Finally, Needham & Company LLC reissued a “buy” rating on shares of Unusual Machines in a research note on Monday. One research 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. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $20.00.

Unusual Machines Price Performance

The firm has a market cap of $569.17 million, a PE ratio of -4.18 and a beta of 22.32. The company has a 50-day simple moving average of $10.92 and a 200-day simple moving average of $11.01.

Institutional Investors Weigh In On Unusual Machines

A number of institutional investors and hedge funds have recently bought and sold shares of UMAC. Connective Capital Management LLC bought a new stake in shares of Unusual Machines in the 2nd quarter valued at about $636,000. GWN Securities Inc. purchased a new stake in Unusual Machines during the second quarter worth $246,000. Allworth Financial LP purchased a new position in shares of Unusual Machines in the 2nd quarter valued at $125,000. Kieckhefer Group LLC raised its position in shares of Unusual Machines by 330.6% in the 3rd quarter. Kieckhefer Group LLC now owns 62,000 shares of the company’s stock worth $936,000 after acquiring an additional 47,600 shares in the last quarter. Finally, NTV Asset Management LLC bought a new position in shares of Unusual Machines in the 2nd quarter worth $86,000.

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.