Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Short Interest Up 1,664.1% in July

Key Points

• Unusual Machines, Inc. saw a dramatic 1,664.1% increase in short interest, reaching 3,500,000 shares by July 15th, which represents approximately 14.8% of the company's shares sold short.
• The company's stock opened at $8.84, with a market cap of $267.76 million and a price-to-earnings ratio of -2.28, reflecting significant volatility.
• Several large investors, including SBI Securities and Edmond DE Rothschild Holding S.A., have recently increased their stakes in Unusual Machines, indicating growing interest in the firm.

Unusual Machines, Inc. (NYSEAMERICAN:UMAC - Get Free Report) was the recipient of a large growth in short interest in July. As of July 15th, there was short interest totaling 3,500,000 shares, agrowthof1,664.1% from the June 30th total of 198,400 shares. Currently,14.8% of the company's stock are sold short. Based on an average daily volume of 4,300,000 shares, the short-interest ratio is currently 0.8 days. Based on an average daily volume of 4,300,000 shares, the short-interest ratio is currently 0.8 days. Currently,14.8% of the company's stock are sold short.

Unusual Machines Trading Down 5.3%

Shares of UMAC stock traded down $0.55 during trading on Wednesday, hitting $9.91. The company's stock had a trading volume of 1,717,837 shares, compared to its average volume of 2,650,949. The company has a market cap of $300.17 million, a PE ratio of -2.55 and a beta of 23.02. The business has a fifty day moving average of $8.84 and a 200-day moving average of $8.86. Unusual Machines has a 52 week low of $1.28 and a 52 week high of $23.62.

Institutional Investors Weigh In On Unusual Machines

Several institutional investors have recently made changes to their positions in UMAC. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Unusual Machines in the first quarter worth $27,000. NewEdge Advisors LLC bought a new position in Unusual Machines in the fourth quarter valued at $84,000. NTV Asset Management LLC purchased a new stake in Unusual Machines during the second quarter valued at about $86,000. SBI Securities Co. Ltd. raised its position in Unusual Machines by 31.0% during the first quarter. SBI Securities Co. Ltd. now owns 10,951 shares of the company's stock valued at $70,000 after purchasing an additional 2,591 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in Unusual Machines during the second quarter valued at about $98,000.

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.