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

Caitong International Asset Management Co. Ltd acquired a new position in shares of Unusual Machines, Inc. (NYSEAMERICAN:UMAC) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 16,566 shares of the company’s stock, valued at approximately $142,000. Caitong International Asset Management Co. Ltd owned 0.05% of Unusual Machines as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. SBI Securities Co. Ltd. raised its stake 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 acquiring an additional 2,591 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Unusual Machines in the first quarter valued at approximately $27,000. NTV Asset Management LLC acquired a new stake in shares of Unusual Machines in the second quarter valued at approximately $86,000. FNY Investment Advisers LLC acquired a new stake in shares of Unusual Machines in the second quarter valued at approximately $98,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Unusual Machines in the first quarter valued at approximately $80,000.

Unusual Machines Price Performance

Unusual Machines stock opened at $12.84 on Friday. The firm has a 50 day simple moving average of $12.17 and a 200-day simple moving average of $9.19. The stock has a market capitalization of $425.00 million, a PE ratio of -3.18 and a beta of 22.45. Unusual Machines, Inc. has a 12-month low of $1.43 and a 12-month high of $23.62.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Zacks Research upgraded shares of Unusual Machines from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Needham & Company LLC restated a “buy” rating and issued a $20.00 price target on shares of Unusual Machines in a research note on Friday, October 17th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.33.

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.