Unusual Machines (NYSEAMERICAN:UMAC) Director Sells $404,400.00 in Stock

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Director Jeffrey Thompson sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $26.96, for a total value of $404,400.00. Following the completion of the transaction, the director owned 4,794,392 shares of the company’s stock, valued at $129,256,808.32. This represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Unusual Machines Stock Up 12.6%

NYSEAMERICAN:UMAC opened at $25.72 on Friday. Unusual Machines, Inc. has a twelve month low of $7.24 and a twelve month high of $34.36. The business has a 50 day moving average price of $17.67 and a two-hundred day moving average price of $15.12. The company has a market cap of $1.23 billion, a P/E ratio of -61.24 and a beta of 14.62.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on UMAC shares. Roth Mkm upped their price target on Unusual Machines to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Needham & Company LLC upped their price target on Unusual Machines from $22.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Unusual Machines currently has an average rating of “Buy” and a consensus price target of $30.00.

Institutional Investors Weigh In On Unusual Machines

Several large investors have recently made changes to their positions in the stock. Tudor Investment Corp ET AL boosted its holdings in shares of Unusual Machines by 201.0% in the 3rd quarter. Tudor Investment Corp ET AL now owns 1,207,460 shares of the company’s stock valued at $18,233,000 after buying an additional 806,359 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Unusual Machines by 13.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,162,795 shares of the company’s stock valued at $17,558,000 after buying an additional 136,696 shares during the last quarter. Granahan Investment Management LLC acquired a new stake in shares of Unusual Machines in the 4th quarter valued at approximately $14,708,000. State Street Corp boosted its holdings in shares of Unusual Machines by 698.4% in the 4th quarter. State Street Corp now owns 966,184 shares of the company’s stock valued at $12,309,000 after buying an additional 845,173 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Unusual Machines by 29.5% in the 4th quarter. Geode Capital Management LLC now owns 359,883 shares of the company’s stock valued at $4,587,000 after buying an additional 81,883 shares during the last quarter.

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.