Unusual Machines (NYSEAMERICAN:UMAC) Trading Down 7.3% - Time to Sell?

Shares of Unusual Machines, Inc. (NYSEAMERICAN:UMAC - Get Free Report) fell 7.3% during trading on Wednesday . The stock traded as low as $7.55 and last traded at $7.59. 2,717,110 shares were traded during mid-day trading, an increase of 30% from the average session volume of 2,093,104 shares. The stock had previously closed at $8.19.

Unusual Machines Stock Down 3.5%

The business's fifty day simple moving average is $6.50 and its 200 day simple moving average is $7.93.

Insider Transactions at Unusual Machines

In other Unusual Machines news, CFO Brian Joseph Hoff sold 83,775 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $5.70, for a total transaction of $477,517.50. Following the completion of the sale, the chief financial officer now directly owns 359,225 shares of the company's stock, valued at approximately $2,047,582.50. The trade was a 18.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 22.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Unusual Machines

Large investors have recently made changes to their positions in the business. Signaturefd LLC bought a new stake in shares of Unusual Machines in the fourth quarter valued at approximately $25,000. Edmond DE Rothschild Holding S.A. bought a new stake in Unusual Machines during the 1st quarter valued at $27,000. SBI Securities Co. Ltd. lifted its position in shares of Unusual Machines by 31.0% during the first 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 in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of Unusual Machines in the first quarter worth $80,000. Finally, NewEdge Advisors LLC purchased a new position in shares of Unusual Machines in the fourth quarter valued at $84,000.

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.