Unusual Machines (NYSEAMERICAN:UMAC) Raised to Strong-Buy at ThinkEquity

Unusual Machines (NYSEAMERICAN:UMAC) was upgraded by equities research analysts at ThinkEquity to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. Zacks Research raised shares of Unusual Machines from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Needham & Company LLC reissued a “buy” rating and issued a $20.00 target price on shares of Unusual Machines in a research note on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $19.33.

Unusual Machines Trading Up 5.5%

UMAC opened at $9.05 on Monday. The stock’s 50 day simple moving average is $12.85 and its 200-day simple moving average is $10.02. The stock has a market cap of $333.76 million, a PE ratio of -2.45 and a beta of 22.22. Unusual Machines has a 1 year low of $2.55 and a 1 year high of $23.62.

Hedge Funds Weigh In On Unusual Machines

Institutional investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its position in Unusual Machines by 67.7% in the third quarter. Jones Financial Companies Lllp now owns 3,017 shares of the company’s stock valued at $46,000 after buying an additional 1,218 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in shares of Unusual Machines in the third quarter valued at approximately $38,000. Wexford Capital LP acquired a new position in shares of Unusual Machines in the 3rd quarter worth approximately $40,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Unusual Machines in the 1st quarter worth approximately $27,000. Finally, Global Retirement Partners LLC bought a new stake in Unusual Machines during the 3rd quarter worth approximately $76,000.

About Unusual Machines

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.