Unusual Machines Sees Unusually High Options Volume (NYSEAMERICAN:UMAC)

Unusual Machines, Inc. (NYSEAMERICAN:UMAC - Get Free Report) saw unusually large options trading activity on Monday. Stock investors purchased 4,443 call options on the company. This represents an increase of 1,352% compared to the typical daily volume of 306 call options.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Unusual Machines

Several hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in shares of Unusual Machines by 329.3% in the 4th quarter. Geode Capital Management LLC now owns 43,214 shares of the company's stock valued at $727,000 after purchasing an additional 33,148 shares during the last quarter. Jane Street Group LLC acquired a new position in Unusual Machines during the fourth quarter worth approximately $298,000. Kieckhefer Group LLC purchased a new stake in Unusual Machines in the fourth quarter valued at approximately $242,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Unusual Machines in the first quarter valued at approximately $80,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of Unusual Machines during the fourth quarter worth approximately $209,000.

Analyst Ratings Changes

Separately, Litchfield Hills Research began coverage on shares of Unusual Machines in a research report on Wednesday, February 19th. They set a "buy" rating and a $20.00 price objective for the company.

Unusual Machines Stock Performance

Shares of NYSEAMERICAN UMAC traded down $0.04 during midday trading on Friday, hitting $5.38. 1,310,258 shares of the company's stock were exchanged, compared to its average volume of 1,552,352. The firm's fifty day simple moving average is $6.01 and its 200-day simple moving average is $7.22. Unusual Machines has a twelve month low of $1.02 and a twelve month high of $23.62. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.24 and a quick ratio of 0.95.

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.