Maxim Group Begins Coverage on Unusual Machines (NYSEAMERICAN:UMAC)

Research analysts at Maxim Group began coverage on shares of Unusual Machines (NYSEAMERICAN:UMAC) in a research report issued on Wednesday, Marketbeat reports. The brokerage set a “buy” rating and a $18.00 price target on the stock. Maxim Group’s price target would indicate a potential upside of 70.62% from the company’s current price.

Unusual Machines Price Performance

Shares of UMAC stock opened at $10.55 on Wednesday. The company has a current ratio of 2.24, a quick ratio of 0.95 and a debt-to-equity ratio of 0.16. Unusual Machines has a twelve month low of $0.98 and a twelve month high of $23.62.

Insider Activity at Unusual Machines

In related news, CEO Allan Thomas Evans bought 65,789 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was acquired at an average price of $1.52 per share, with a total value of $99,999.28. Following the transaction, the chief executive officer now owns 90,789 shares in the company, valued at approximately $137,999.28. This trade represents a 263.16 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert Paul Lowry purchased 32,895 shares of the stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average cost of $1.52 per share, for a total transaction of $50,000.40. Following the completion of the acquisition, the director now directly owns 73,502 shares in the company, valued at approximately $111,723.04. This trade represents a 81.01 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 22.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Unusual Machines

An institutional investor recently bought a new position in Unusual Machines stock. Rathbones Group PLC purchased a new position in Unusual Machines, Inc. (NYSEAMERICAN:UMAC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 42,000 shares of the company’s stock, valued at approximately $55,000. Rathbones Group PLC owned 0.45% of Unusual Machines at the end of the most recent reporting period.

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.