Jeffrey Thompson Sells 15,000 Shares of Unusual Machines (NYSEAMERICAN:UMAC) Stock

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Director Jeffrey Thompson sold 15,000 shares of Unusual Machines stock in a transaction on Monday, June 8th. The stock was sold at an average price of $27.42, for a total transaction of $411,300.00. Following the completion of the transaction, the director owned 4,779,392 shares in the company, valued at $131,050,928.64. This trade represents a 0.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Unusual Machines Price Performance

Shares of UMAC opened at $22.85 on Thursday. The company has a market capitalization of $1.09 billion, a PE ratio of -54.40 and a beta of 14.62. Unusual Machines, Inc. has a one year low of $7.24 and a one year high of $34.36. The company’s fifty day moving average price is $17.41 and its 200 day moving average price is $14.99.

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

Analyst Ratings Changes

Several analysts have issued reports on the stock. Needham & Company LLC raised their price target on shares of Unusual Machines from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Roth Mkm raised their price target on shares of Unusual Machines to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Unusual Machines currently has an average rating of “Buy” and an average price target of $27.33.

Hedge Funds Weigh In On Unusual Machines

A number of hedge funds and other institutional investors have recently made changes to their positions in UMAC. Geode Capital Management LLC lifted its holdings in shares of Unusual Machines by 89.1% during the 2nd quarter. Geode Capital Management LLC now owns 222,927 shares of the company’s stock worth $1,911,000 after acquiring an additional 105,020 shares during the period. Jump Financial LLC bought a new position in shares of Unusual Machines during the 2nd quarter worth about $1,251,000. Bank of America Corp DE lifted its holdings in shares of Unusual Machines by 7,372.6% during the 2nd quarter. Bank of America Corp DE now owns 7,099 shares of the company’s stock worth $61,000 after acquiring an additional 7,004 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Unusual Machines by 4,639.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 13,366 shares of the company’s stock worth $115,000 after acquiring an additional 13,084 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Unusual Machines by 67.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,017 shares of the company’s stock worth $46,000 after acquiring an additional 1,218 shares during the period.

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.