Short Interest in Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Grows By 20.0%

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) was the recipient of a significant growth in short interest in February. As of February 28th, there was short interest totalling 1,260,000 shares, a growth of 20.0% from the February 13th total of 1,050,000 shares. Based on an average trading volume of 2,570,000 shares, the days-to-cover ratio is presently 0.5 days. Approximately 10.4% of the shares of the company are sold short.

Unusual Machines Stock Performance

Shares of NYSEAMERICAN UMAC traded down $0.23 during mid-day trading on Wednesday, reaching $7.17. 826,292 shares of the company were exchanged, compared to its average volume of 1,411,065. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.95 and a current ratio of 2.24. The firm’s 50-day moving average is $11.48. Unusual Machines has a twelve month low of $0.98 and a twelve month high of $23.62.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Litchfield Hills Research assumed coverage on Unusual Machines in a report on Wednesday, February 19th. They set a “buy” rating and a $20.00 price target for the company. Maxim Group started coverage on Unusual Machines in a research note on Wednesday, December 18th. They set a “buy” rating and a $18.00 target price for the company.

Institutional Investors Weigh In On Unusual Machines

Institutional investors have recently made changes to their positions in the company. OMERS ADMINISTRATION Corp bought a new position in shares of Unusual Machines during the fourth quarter worth approximately $209,000. Jane Street Group LLC bought a new position in Unusual Machines during the 4th quarter worth $298,000. NewEdge Advisors LLC acquired a new stake in shares of Unusual Machines during the fourth quarter worth $84,000. Geode Capital Management LLC boosted its position in shares of Unusual Machines by 329.3% in the fourth quarter. Geode Capital Management LLC now owns 43,214 shares of the company’s stock valued at $727,000 after acquiring an additional 33,148 shares during the period. Finally, Signaturefd LLC acquired a new stake in Unusual Machines in the 4th quarter worth about $25,000.

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.