Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Short Interest Update

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

Wall Street Analyst Weigh In

Separately, Litchfield Hills Research started coverage on Unusual Machines in a research note on Wednesday, February 19th. They set a “buy” rating and a $20.00 price target for the company.

Unusual Machines Stock Up 0.4 %

NYSEAMERICAN UMAC traded up $0.02 during trading on Friday, hitting $5.06. 337,817 shares of the stock traded hands, compared to its average volume of 1,477,561. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.95 and a current ratio of 2.24. Unusual Machines has a 12-month low of $0.98 and a 12-month high of $23.62. The firm has a 50-day simple moving average of $7.60 and a 200-day simple moving average of $7.25.

Insider Transactions at Unusual Machines

In other Unusual Machines news, CFO Brian Joseph Hoff sold 83,775 shares of Unusual Machines stock in a transaction on Thursday, April 3rd. The stock was 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 trade represents a 18.91 % decrease in their position. The transaction 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 insiders.

Institutional Investors Weigh In On Unusual Machines

Large investors have recently added to or reduced their stakes in the stock. Signaturefd LLC bought a new position in Unusual Machines during the 4th quarter valued at about $25,000. NewEdge Advisors LLC purchased a new position in shares of Unusual Machines during the fourth quarter valued at approximately $84,000. SBI Securities Co. Ltd. bought a new position in shares of Unusual Machines during the fourth quarter valued at approximately $141,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Unusual Machines in the fourth quarter worth approximately $209,000. Finally, Kieckhefer Group LLC bought a new stake in shares of Unusual Machines during the 4th quarter worth approximately $242,000.

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.