Unusual Machines (NYSEAMERICAN:UMAC) Price Target Raised to $40.00

Unusual Machines (NYSEAMERICAN:UMAC) had its price target increased by Roth Mkm to $40.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Roth Mkm’s price target indicates a potential upside of 38.50% from the company’s current price.

Separately, Needham & Company LLC increased their price target on shares of Unusual Machines from $20.00 to $22.00 and gave the company a “buy” rating in a report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $27.33.

Unusual Machines Trading Down 9.1%

Shares of NYSEAMERICAN:UMAC opened at $28.88 on Tuesday. Unusual Machines has a 12 month low of $5.10 and a 12 month high of $32.36. The company has a 50-day moving average price of $15.47 and a 200 day moving average price of $14.07. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -68.76 and a beta of 14.63.

Unusual Machines (NYSEAMERICAN:UMAC) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.15). Unusual Machines had a negative net margin of 32.71% and a negative return on equity of 11.83%. The business had revenue of $8.10 million during the quarter, compared to the consensus estimate of $5.54 million. As a group, equities analysts forecast that Unusual Machines will post -0.38 EPS for the current year.

Insiders Place Their Bets

In other Unusual Machines news, CFO Brian Joseph Hoff sold 150,000 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $17.71, for a total value of $2,656,500.00. Following the completion of the sale, the chief financial officer owned 352,650 shares of the company’s stock, valued at $6,245,431.50. This trade represents a 29.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Stacy Rochelle Wright sold 13,750 shares of Unusual Machines stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $18.57, for a total transaction of $255,337.50. Following the sale, the executive directly owned 96,250 shares of the company’s stock, valued at $1,787,362.50. This represents a 12.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 185,768 shares of company stock valued at $3,322,537 over the last 90 days. Insiders own 7.50% of the company’s stock.

Institutional Trading of Unusual Machines

Institutional investors and hedge funds have recently modified their holdings of the stock. BlueCrest Capital Management Ltd bought a new stake in shares of Unusual Machines during the third quarter valued at approximately $2,168,000. Tudor Investment Corp ET AL raised its stake in shares of Unusual Machines by 201.0% during 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. FNY Investment Advisers LLC raised its stake in shares of Unusual Machines by 293.4% during the fourth quarter. FNY Investment Advisers LLC now owns 120,001 shares of the company’s stock valued at $1,528,000 after acquiring an additional 89,500 shares in the last quarter. Moody National Bank Trust Division bought a new stake in shares of Unusual Machines during the fourth quarter valued at approximately $549,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Unusual Machines during the fourth quarter valued at approximately $1,776,000.

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.