Short Interest in Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Decreases By 63.3%

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) saw a large decline in short interest in the month of January. As of January 15th, there was short interest totalling 360,600 shares, a decline of 63.3% from the December 31st total of 983,900 shares. Currently, 3.4% of the company’s shares are sold short. Based on an average daily trading volume, of 4,360,000 shares, the days-to-cover ratio is currently 0.1 days.

Unusual Machines Stock Down 2.8 %

Unusual Machines stock traded down $0.33 during mid-day trading on Tuesday, hitting $11.74. The company’s stock had a trading volume of 501,160 shares, compared to its average volume of 1,840,447. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.24 and a quick ratio of 0.95. Unusual Machines has a 52-week low of $0.98 and a 52-week high of $23.62.

Insider Buying and Selling at Unusual Machines

In related news, CEO Allan Thomas Evans purchased 65,789 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was purchased at an average price of $1.52 per share, for a total transaction of $99,999.28. Following the acquisition, the chief executive officer now directly owns 90,789 shares in the company, valued at $137,999.28. The trade was a 263.16 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Paul Lowry bought 32,895 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was acquired at an average cost of $1.52 per share, for a total transaction of $50,000.40. Following the completion of the transaction, the director now owns 73,502 shares in the company, valued at $111,723.04. This 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 owned by company insiders.

Institutional Investors Weigh In On Unusual Machines

An institutional investor recently bought a new position in Unusual Machines stock. Kieckhefer Group LLC acquired a new stake in shares of Unusual Machines, Inc. (NYSEAMERICAN:UMAC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,400 shares of the company’s stock, valued at approximately $242,000. Kieckhefer Group LLC owned about 0.17% of Unusual Machines as of its most recent filing with the Securities and Exchange Commission.

Wall Street Analyst Weigh In

Separately, Maxim Group initiated coverage on Unusual Machines in a research report on Wednesday, December 18th. They set a “buy” rating and a $18.00 price target on the stock.

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.