Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Sees Significant Decrease in Short Interest

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) was the target of a large drop in short interest in 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. Approximately 0.1% of the company’s stock are sold short. Based on an average daily volume of 118,700 shares, the days-to-cover ratio is currently 0.0 days.

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 stake in Unusual Machines, Inc. (NYSEAMERICAN:UMAC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 42,000 shares of the company’s stock, valued at approximately $55,000. Rathbones Group PLC owned 0.45% of Unusual Machines as of its most recent filing with the Securities and Exchange Commission.

Unusual Machines Trading Down 2.4 %

NYSEAMERICAN:UMAC traded down $0.04 during mid-day trading on Thursday, reaching $1.66. 15,850 shares of the stock were exchanged, compared to its average volume of 137,182. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.58 and a current ratio of 5.50. Unusual Machines has a 1 year low of $0.98 and a 1 year high of $5.54.

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

Analyst Upgrades and Downgrades

Separately, ThinkEquity began coverage on Unusual Machines in a report on Monday, June 17th. They issued a “buy” rating and a $4.00 price objective on the stock.

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.