Short Interest in Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Decreases By 85.8%

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 3,100 shares, a drop of 85.8% from the August 15th total of 21,900 shares. Based on an average trading volume of 118,700 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.1% of the company’s stock are sold short.

Analyst Ratings Changes

Separately, ThinkEquity assumed coverage on shares of Unusual Machines in a report on Monday, June 17th. They issued a “buy” rating and a $4.00 price target for the company.

Institutional Investors Weigh In On Unusual Machines

An institutional investor recently bought a new position in Unusual Machines stock. Rathbones Group PLC acquired a new position in shares of Unusual Machines, Inc. (NYSEAMERICAN:UMAC) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 42,000 shares of the company’s stock, valued at approximately $55,000. Rathbones Group PLC owned approximately 0.45% of Unusual Machines as of its most recent filing with the Securities & Exchange Commission.

Unusual Machines Trading Down 2.4 %

Shares of Unusual Machines stock traded down $0.04 during trading hours on Thursday, reaching $1.66. The stock had a trading volume of 15,850 shares, compared to its average volume of 137,182. Unusual Machines has a twelve month low of $0.98 and a twelve month high of $5.54. The company has a current ratio of 5.50, a quick ratio of 2.58 and a debt-to-equity ratio of 0.20.

Unusual Machines (NYSEAMERICAN:UMAC) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.16) earnings per share (EPS) for the quarter. The firm had revenue of $1.41 million during the 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.