Litchfield Hills Research Begins Coverage on Unusual Machines (NYSEAMERICAN:UMAC)

Equities researchers at Litchfield Hills Research initiated coverage on shares of Unusual Machines (NYSEAMERICAN:UMAC) in a research note issued to investors on Wednesday,Benzinga reports. The brokerage set a “buy” rating and a $20.00 price target on the stock. Litchfield Hills Research’s price objective indicates a potential upside of 80.51% from the stock’s current price.

Separately, Maxim Group assumed coverage on Unusual Machines in a report on Wednesday, December 18th. They set a “buy” rating and a $18.00 price target on the stock.

Unusual Machines Price Performance

NYSEAMERICAN UMAC opened at $11.08 on Wednesday. Unusual Machines has a 12 month low of $0.98 and a 12 month 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.

Insider Transactions at Unusual Machines

In related news, Director Jeffrey M. Thompson sold 40,000 shares of Unusual Machines 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 transaction, the director now owns 325,984 shares in the company, valued at approximately $4,123,697.60. The trade was a 10.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 22.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UMAC. Kieckhefer Group LLC bought a new position in shares of Unusual Machines during the 4th quarter valued at about $242,000. Jane Street Group LLC bought a new stake in shares of Unusual Machines in the fourth quarter worth about $298,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Unusual Machines in the fourth quarter worth about $209,000. NewEdge Advisors LLC bought a new position in Unusual Machines during the fourth quarter valued at approximately $84,000. Finally, Geode Capital Management LLC grew its holdings in Unusual Machines by 329.3% during the 4th quarter. Geode Capital Management LLC now owns 43,214 shares of the company’s stock valued at $727,000 after buying an additional 33,148 shares in the last quarter.

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.