Maxim Group Initiates Coverage on Unusual Machines (NYSEAMERICAN:UMAC)

Maxim Group initiated coverage on shares of Unusual Machines (NYSEAMERICAN:UMAC) in a research report sent to investors on Wednesday, Marketbeat Ratings reports. The firm issued a buy rating and a $18.00 target price on the stock.

Unusual Machines Trading Up 19.5 %

Unusual Machines stock opened at $12.61 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 quick ratio of 0.95 and a current ratio of 2.24.

Insider Buying and Selling

In other Unusual Machines news, CEO Allan Thomas Evans acquired 65,789 shares of Unusual Machines stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average cost of $1.52 per share, with a total value of $99,999.28. Following the purchase, the chief executive officer now owns 90,789 shares in the company, valued at approximately $137,999.28. The trade was a 263.16 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey M. Thompson sold 40,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $12.65, for a total value of $506,000.00. Following the completion of the transaction, the director now owns 325,984 shares in the company, valued at $4,123,697.60. This represents a 10.93 % decrease in their position. The disclosure for this sale can be found here. Insiders own 22.20% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Unusual Machines stock. Rathbones Group PLC bought a new position in Unusual Machines, Inc. (NYSEAMERICAN:UMAC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 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.