Unusual Machines (NYSEAMERICAN:UMAC) Coverage Initiated at Needham & Company LLC

Key Points

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Needham & Company LLC began coverage on shares of Unusual Machines (NYSEAMERICAN:UMAC - Free Report) in a report published on Tuesday morning, Marketbeat.com reports. The firm issued a buy rating and a $15.00 price target on the stock.

Unusual Machines Trading Up 5.3%

UMAC stock traded up $0.56 during midday trading on Tuesday, hitting $11.07. 3,672,481 shares of the company traded hands, compared to its average volume of 2,629,587. Unusual Machines has a twelve month low of $1.28 and a twelve month high of $23.62. The business has a 50 day simple moving average of $9.65 and a 200-day simple moving average of $8.34.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Edmond DE Rothschild Holding S.A. acquired a new position in Unusual Machines during the 1st quarter worth $27,000. NewEdge Advisors LLC acquired a new position in Unusual Machines during the 4th quarter worth $84,000. Bank of America Corp DE lifted its position in Unusual Machines by 7,372.6% during the 2nd quarter. Bank of America Corp DE now owns 7,099 shares of the company's stock worth $61,000 after acquiring an additional 7,004 shares during the last quarter. NTV Asset Management LLC acquired a new position in Unusual Machines during the 2nd quarter worth $86,000. Finally, SBI Securities Co. Ltd. lifted its position in Unusual Machines by 31.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 10,951 shares of the company's stock worth $70,000 after acquiring an additional 2,591 shares during 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.