Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Sees Large Growth in Short Interest

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 - ) was the target of a significant increase in short interest in July. As of July 15th, there was short interest totaling 3,500,000 shares, anincreaseof1,664.1% from the June 30th total of 198,400 shares. Approximately14.8% of the company's shares are sold short. Based on an average trading volume of 4,300,000 shares, the short-interest ratio is presently 0.8 days. Based on an average trading volume of 4,300,000 shares, the short-interest ratio is presently 0.8 days. Approximately14.8% of the company's shares are sold short.

Unusual Machines Price Performance

Shares of Unusual Machines stock opened at $8.84 on Friday. Unusual Machines has a 1 year low of $1.28 and a 1 year high of $23.62. The firm has a market cap of $267.76 million, a price-to-earnings ratio of -2.28 and a beta of 23.05. The company has a 50-day moving average of $8.57 and a 200 day moving average of $8.88.

Hedge Funds Weigh In On Unusual Machines

Several large investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. raised its stake in shares of Unusual Machines by 31.0% in the first quarter. SBI Securities Co. Ltd. now owns 10,951 shares of the company's stock worth $70,000 after purchasing an additional 2,591 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in Unusual Machines in the 1st quarter worth about $27,000. NewEdge Advisors LLC purchased a new position in Unusual Machines in the 4th quarter worth about $84,000. NTV Asset Management LLC bought a new position in Unusual Machines during the 2nd quarter valued at about $86,000. Finally, FNY Investment Advisers LLC bought a new position in Unusual Machines during the 2nd quarter valued at about $98,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.