Unusual Machines (NYSEAMERICAN:UMAC) Shares Down 9% – Should You Sell?

Unusual Machines, Inc. (NYSEAMERICAN:UMACGet Free Report) shares were down 9% on Friday . The company traded as low as $20.05 and last traded at $20.16. Approximately 4,512,301 shares traded hands during trading, an increase of 14% from the average daily volume of 3,964,928 shares. The stock had previously closed at $22.15.

Key Headlines Impacting Unusual Machines

Here are the key news stories impacting Unusual Machines this week:

Wall Street Analysts Forecast Growth

UMAC has been the subject of several research analyst reports. ThinkEquity raised shares of Unusual Machines to a “strong-buy” rating in a research note on Monday, November 17th. JonesTrading initiated coverage on Unusual Machines in a research report on Monday, December 1st. They set a “buy” rating and a $20.00 target price for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $20.00 price target on shares of Unusual Machines in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Unusual Machines presently has an average rating of “Buy” and an average target price of $20.00.

View Our Latest Stock Report on Unusual Machines

Unusual Machines Price Performance

The business has a 50-day moving average of $15.02 and a two-hundred day moving average of $12.78. The company has a market cap of $737.60 million, a P/E ratio of -23.81 and a beta of 22.23.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of UMAC. Granahan Investment Management LLC purchased a new stake in Unusual Machines during the fourth quarter valued at approximately $14,708,000. State Street Corp boosted its position in shares of Unusual Machines by 698.4% in the 4th quarter. State Street Corp now owns 966,184 shares of the company’s stock worth $12,309,000 after purchasing an additional 845,173 shares in the last quarter. Tudor Investment Corp ET AL grew its stake in Unusual Machines by 201.0% during the 3rd quarter. Tudor Investment Corp ET AL now owns 1,207,460 shares of the company’s stock worth $18,233,000 after buying an additional 806,359 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in Unusual Machines during the 4th quarter valued at about $2,521,000. Finally, Sei Investments Co. purchased a new stake in Unusual Machines in the third quarter valued at about $2,652,000.

Unusual Machines Company Profile

(Get Free Report)

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.

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