Unusual Machines Sees Unusually High Options Volume (NYSEAMERICAN:UMAC)

Unusual Machines, Inc. (NYSEAMERICAN:UMACGet Free Report) was the recipient of unusually large options trading on Tuesday. Stock investors purchased 7,224 call options on the stock. This is an increase of approximately 40% compared to the typical volume of 5,142 call options.

Unusual Machines News Roundup

Here are the key news stories impacting Unusual Machines this week:

Unusual Machines Stock Performance

NYSEAMERICAN UMAC opened at $18.50 on Wednesday. The stock has a market cap of $682.28 million, a P/E ratio of -22.02 and a beta of 22.23. Unusual Machines has a fifty-two week low of $4.45 and a fifty-two week high of $20.15. The stock has a 50 day simple moving average of $14.69 and a two-hundred day simple moving average of $12.66.

Hedge Funds Weigh In On Unusual Machines

A number of institutional investors have recently bought and sold shares of UMAC. Jones Financial Companies Lllp boosted its position in Unusual Machines by 67.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,017 shares of the company’s stock valued at $46,000 after acquiring an additional 1,218 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Unusual Machines by 22.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 11,652 shares of the company’s stock worth $148,000 after acquiring an additional 2,116 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Unusual Machines in the 3rd quarter valued at approximately $38,000. Wexford Capital LP bought a new stake in shares of Unusual Machines during the third quarter valued at approximately $40,000. Finally, Cetera Investment Advisers boosted its position in shares of Unusual Machines by 37.1% during the fourth quarter. Cetera Investment Advisers now owns 14,531 shares of the company’s stock valued at $185,000 after purchasing an additional 3,929 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on UMAC. ThinkEquity upgraded shares of Unusual Machines to a “strong-buy” rating in a research report on Monday, November 17th. JonesTrading began coverage on Unusual Machines in a research note on Monday, December 1st. They issued a “buy” rating and a $20.00 target price for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $20.00 target price on shares of Unusual Machines in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $20.00.

View Our Latest Report on Unusual Machines

About Unusual Machines

(Get Free Report)

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. Unusual Machines, Inc was incorporated in 2019 and is based in Orlando, Florida.

Further Reading

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