Unusual Machines (NYSEAMERICAN:UMAC) Rating Increased to Hold at Zacks Research

Key Points

• Unusual Machines (NYSEAMERICAN:UMAC) has been upgraded from a "strong sell" to a "hold" rating by Zacks Research, highlighting a positive shift in analyst sentiment.
• Needham & Company LLC raised their price target on UMAC from $15.00 to $20.00, reinforcing the stock's current "buy" rating by three analysts and a consensus rating of "Moderate Buy."
• The stock's one-year range has seen lows of $1.28 and highs of $23.62, with a current market capitalization of approximately $486.90 million.

Unusual Machines (NYSEAMERICAN:UMAC - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued on Monday,Zacks.com reports.

Separately, Needham & Company LLC boosted their price objective on shares of Unusual Machines from $15.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, September 30th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $19.33.

Unusual Machines Price Performance

NYSEAMERICAN:UMAC opened at $15.99 on Monday. Unusual Machines has a one year low of $1.28 and a one year high of $23.62. The company's 50-day simple moving average is $11.24 and its 200 day simple moving average is $8.57. The firm has a market capitalization of $486.90 million, a P/E ratio of -3.96 and a beta of 22.45.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in UMAC. Jump Financial LLC bought a new position in shares of Unusual Machines in the second quarter worth approximately $1,251,000. Geode Capital Management LLC lifted its stake in shares of Unusual Machines by 89.1% in the second quarter. Geode Capital Management LLC now owns 222,927 shares of the company's stock worth $1,911,000 after buying an additional 105,020 shares in the last quarter. Connective Capital Management LLC bought a new position in shares of Unusual Machines in the second quarter worth approximately $636,000. GWN Securities Inc. bought a new position in shares of Unusual Machines in the second quarter worth approximately $246,000. Finally, Bluefin Capital Management LLC purchased a new position in shares of Unusual Machines during the second quarter valued at approximately $166,000.

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.

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