Zacks Research downgraded shares of Unusual Machines (NYSEAMERICAN:UMAC - Free Report) from a hold rating to a strong sell rating in a research report report published on Wednesday, August 20th,Zacks.com reports.
Separately, Needham & Company LLC initiated coverage on shares of Unusual Machines in a research report on Tuesday, August 19th. They set a "buy" rating and a $15.00 price target on the stock. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.67.
Read Our Latest Analysis on Unusual Machines
Unusual Machines Stock Performance
Shares of UMAC stock traded down $0.32 during trading hours on Wednesday, hitting $10.44. 1,020,176 shares of the company were exchanged, compared to its average volume of 2,648,826. Unusual Machines has a one year low of $1.28 and a one year high of $23.62. The business's 50-day simple moving average is $9.70 and its two-hundred day simple moving average is $8.26. The stock has a market capitalization of $317.79 million, a price-to-earnings ratio of -2.59 and a beta of 23.02.
Institutional Trading of Unusual Machines
Large investors have recently added to or reduced their stakes in the business. Edmond DE Rothschild Holding S.A. bought a new position in shares of Unusual Machines in the first quarter valued at $27,000. NewEdge Advisors LLC purchased a new position in shares of Unusual Machines during the 4th quarter valued at $84,000. Bank of America Corp DE grew its holdings in shares of 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 valued at $61,000 after acquiring an additional 7,004 shares in the last quarter. NTV Asset Management LLC bought a new stake in Unusual Machines in the second quarter worth $86,000. Finally, SBI Securities Co. Ltd. boosted its holdings in 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 in the last quarter.
About Unusual Machines
(
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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.
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