NewEdge Advisors LLC Makes New $84,000 Investment in Unusual Machines, Inc. (NYSEAMERICAN:UMAC)

NewEdge Advisors LLC acquired a new position in Unusual Machines, Inc. (NYSEAMERICAN:UMAC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,000 shares of the company’s stock, valued at approximately $84,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UMAC. Geode Capital Management LLC boosted its stake in Unusual Machines by 329.3% during the fourth quarter. Geode Capital Management LLC now owns 43,214 shares of the company’s stock worth $727,000 after acquiring an additional 33,148 shares in the last quarter. Signaturefd LLC bought a new position in shares of Unusual Machines during the 4th quarter worth about $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of Unusual Machines in the 4th quarter valued at about $141,000. Finally, Kieckhefer Group LLC bought a new stake in Unusual Machines in the 4th quarter valued at about $242,000.

Analyst Ratings Changes

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

Unusual Machines Trading Up 5.3 %

Shares of NYSEAMERICAN UMAC opened at $6.91 on Friday. The company has a quick ratio of 0.95, a current ratio of 2.24 and a debt-to-equity ratio of 0.16. The firm’s 50-day simple moving average is $6.44 and its 200 day simple moving average is $7.25. Unusual Machines, Inc. has a fifty-two week low of $0.98 and a fifty-two week high of $23.62.

Insider Activity

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

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.