Unusual Machines (NYSEAMERICAN:UMAC) Shares Gap Down – Should You Sell?

Unusual Machines, Inc. (NYSEAMERICAN:UMAC)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $18.51, but opened at $17.26. Unusual Machines shares last traded at $18.7640, with a volume of 1,286,905 shares.

Analyst Ratings Changes

UMAC has been the topic of a number of analyst reports. Jones Trading initiated coverage on shares of Unusual Machines in a report on Monday, December 1st. They set a “buy” rating and a $20.00 price objective on the stock. Zacks Research raised shares of Unusual Machines from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of Unusual Machines in a research note on Tuesday, January 13th. Finally, ThinkEquity raised Unusual Machines to a “strong-buy” rating in a research report on Monday, November 17th. 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 stock. Based on data from MarketBeat.com, Unusual Machines currently has an average rating of “Buy” and a consensus target price of $20.00.

Unusual Machines Stock Down 0.2%

The stock’s 50 day moving average is $11.52 and its two-hundred day moving average is $11.57. The company has a market capitalization of $680.99 million, a PE ratio of -4.90 and a beta of 22.32.

Institutional Investors Weigh In On Unusual Machines

A number of institutional investors have recently added to or reduced their stakes in UMAC. Harbor Capital Advisors Inc. bought a new position in Unusual Machines in the fourth quarter worth about $578,000. FNY Investment Advisers LLC grew its position in shares of Unusual Machines by 293.4% in the 4th quarter. FNY Investment Advisers LLC now owns 120,001 shares of the company’s stock worth $1,528,000 after buying an additional 89,500 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new position in shares of Unusual Machines during the 4th quarter worth approximately $261,000. Moody National Bank Trust Division purchased a new stake in Unusual Machines during the fourth quarter valued at approximately $549,000. Finally, Tudor Investment Corp ET AL boosted its stake in Unusual Machines by 201.0% in the third quarter. Tudor Investment Corp ET AL now owns 1,207,460 shares of the company’s stock valued at $18,233,000 after acquiring an additional 806,359 shares in the last quarter.

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. Unusual Machines, Inc was incorporated in 2019 and is based in Orlando, Florida.