FNY Investment Advisers LLC Invests $98,000 in Unusual Machines, Inc. $UMAC

FNY Investment Advisers LLC acquired a new position in Unusual Machines, Inc. (NYSEAMERICAN:UMAC) during the second quarter, according to its most recent filing with the SEC. The firm acquired 11,506 shares of the company’s stock, valued at approximately $98,000.

Several other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. boosted 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 valued at $70,000 after purchasing an additional 2,591 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Unusual Machines during the first quarter valued at approximately $27,000. NTV Asset Management LLC bought a new stake in shares of Unusual Machines during the second quarter valued at approximately $86,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Unusual Machines during the first quarter valued at approximately $80,000. Finally, Covestor Ltd bought a new stake in shares of Unusual Machines during the first quarter valued at approximately $85,000.

Unusual Machines Trading Up 1.8%

Unusual Machines stock opened at $11.88 on Friday. The business’s fifty day simple moving average is $12.12 and its two-hundred day simple moving average is $9.14. Unusual Machines, Inc. has a 12 month low of $1.43 and a 12 month high of $23.62. The company has a market capitalization of $393.23 million, a price-to-earnings ratio of -2.94 and a beta of 22.45.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on UMAC shares. Zacks Research upgraded Unusual Machines from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of Unusual Machines in a research report on Friday, October 17th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Unusual Machines has a consensus rating of “Moderate Buy” and an average target price of $19.33.

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.