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

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) was the recipient of a significant 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. Based on an average daily volume of 1,210,000 shares, the short-interest ratio is currently 1.2 days. Currently, 10.9% of the company’s shares are short sold.

Insider Transactions at Unusual Machines

In other Unusual Machines news, CFO Brian Joseph Hoff sold 83,775 shares of the firm’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $5.70, for a total transaction of $477,517.50. Following the transaction, the chief financial officer now directly owns 359,225 shares in the company, valued at $2,047,582.50. This trade represents a 18.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 22.20% of the company’s stock.

Institutional Trading of Unusual Machines

A number of hedge funds have recently added to or reduced their stakes in UMAC. SBI Securities Co. Ltd. purchased a new stake in shares of Unusual Machines in the fourth quarter valued at approximately $141,000. Kieckhefer Group LLC purchased a new stake in Unusual Machines in the 4th quarter worth $242,000. Jane Street Group LLC acquired a new position in Unusual Machines during the fourth quarter worth $298,000. OMERS ADMINISTRATION Corp purchased a new position in Unusual Machines during the fourth quarter valued at $209,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of Unusual Machines in the fourth quarter valued at about $84,000.

Unusual Machines Stock Performance

Shares of Unusual Machines stock opened at $5.06 on Monday. The firm has a fifty day moving average price of $7.60 and a 200 day moving average price of $7.25. Unusual Machines has a 1 year low of $0.98 and a 1 year high of $23.62. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.24 and a quick ratio of 0.95.

Analysts Set New Price Targets

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

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.