Unusual Machines (NYSEAMERICAN:UMAC) Research Coverage Started at Maxim Group

Maxim Group assumed coverage on shares of Unusual Machines (NYSEAMERICAN:UMAC) in a report issued on Wednesday morning, Marketbeat reports. The brokerage issued a buy rating and a $18.00 price objective on the stock.

Unusual Machines Stock Performance

Shares of NYSEAMERICAN UMAC opened at $12.61 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.95 and a current ratio of 2.24. Unusual Machines has a 12-month low of $0.98 and a 12-month high of $23.62.

Insiders Place Their Bets

In related news, CEO Allan Thomas Evans purchased 65,789 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were bought at an average price of $1.52 per share, for a total transaction of $99,999.28. Following the acquisition, the chief executive officer now directly owns 90,789 shares in the company, valued at $137,999.28. This trade represents a 263.16 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Jeffrey M. Thompson sold 40,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $12.65, for a total transaction of $506,000.00. Following the sale, the director now directly owns 325,984 shares of the company’s stock, valued at $4,123,697.60. This represents a 10.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.20% of the stock is owned by corporate insiders.

Institutional Trading of Unusual Machines

An institutional investor recently bought a new position in Unusual Machines stock. Rathbones Group PLC acquired a new stake in Unusual Machines, Inc. (NYSEAMERICAN:UMAC) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 42,000 shares of the company’s stock, valued at approximately $55,000. Rathbones Group PLC owned about 0.45% of Unusual Machines at the end of the most recent reporting period.

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.