Unusual Machines (NYSEAMERICAN:UMAC) Rating Increased to Strong-Buy at ThinkEquity

ThinkEquity upgraded shares of Unusual Machines (NYSEAMERICAN:UMAC) to a strong-buy rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $20.00 target price on shares of Unusual Machines in a report on Friday, October 17th. Zacks Research raised shares of Unusual Machines from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $19.33.

Unusual Machines Stock Up 5.5%

Shares of UMAC opened at $9.05 on Monday. The business has a 50-day simple moving average of $12.85 and a two-hundred day simple moving average of $10.02. Unusual Machines has a 52 week low of $2.55 and a 52 week high of $23.62. The stock has a market cap of $333.76 million, a price-to-earnings ratio of -2.45 and a beta of 22.22.

Hedge Funds Weigh In On Unusual Machines

Several hedge funds have recently modified their holdings of the stock. Edmond DE Rothschild Holding S.A. bought a new position in shares of Unusual Machines during the first quarter worth $27,000. Ameritas Advisory Services LLC purchased a new stake in Unusual Machines in the 3rd quarter worth $38,000. Wexford Capital LP purchased a new stake in Unusual Machines in the 3rd quarter worth $40,000. Jones Financial Companies Lllp boosted its holdings in shares of Unusual Machines by 67.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,017 shares of the company’s stock valued at $46,000 after purchasing an additional 1,218 shares during the last quarter. Finally, Bank of America Corp DE grew its position in shares of Unusual Machines by 7,372.6% during the second quarter. Bank of America Corp DE now owns 7,099 shares of the company’s stock valued at $61,000 after purchasing an additional 7,004 shares in the last quarter.

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.