Unusual Machines (NYSEAMERICAN:UMAC) Now Covered by Analysts at Northland Securities

Stock analysts at Northland Securities started coverage on shares of Unusual Machines (NYSEAMERICAN:UMAC) in a research report issued on Friday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $30.00 price target on the stock. Northland Securities‘s price objective would indicate a potential upside of 84.39% from the stock’s previous close.

UMAC has been the topic of several other reports. Needham & Company LLC restated a “buy” rating and set a $40.00 price objective on shares of Unusual Machines in a research note on Wednesday, October 7th. HC Wainwright assumed coverage on shares of Unusual Machines in a research note on Wednesday, July 15th. They issued a “buy” rating and a $42.00 target price for the company. ThinkEquity reiterated a “buy” rating on shares of Unusual Machines in a research note on Monday, August 17th. National Bank Financial set a $42.00 price target on Unusual Machines in a report on Wednesday, July 15th. Finally, Piper Sandler began coverage on Unusual Machines in a research report on Wednesday, August 12th. They set an “overweight” rating and a $38.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating. According to MarketBeat, Unusual Machines presently has a consensus rating of “Buy” and an average price target of $36.00.

Unusual Machines Price Performance

UMAC opened at $16.27 on Friday. The company has a market capitalization of $812.85 million, a price-to-earnings ratio of -62.58 and a beta of 14.80. The business’s 50-day moving average price is $23.10 and its two-hundred day moving average price is $20.97. Unusual Machines has a 1 year low of $7.24 and a 1 year high of $34.93.

Unusual Machines (NYSEAMERICAN:UMAC) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.16). The firm had revenue of $16.72 million for the quarter, compared to analyst estimates of $9.20 million. Unusual Machines had a negative net margin of 20.29% and a negative return on equity of 7.62%. Sell-side analysts anticipate that Unusual Machines will post -0.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Unusual Machines

In other news, CFO Brian Joseph Hoff sold 11,413 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $26.01, for a total value of $296,852.13. Following the completion of the transaction, the chief financial officer directly owned 341,237 shares in the company, valued at approximately $8,875,574.37. The trade was a 3.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Andrew Ross Camden sold 9,625 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $26.01, for a total value of $250,346.25. Following the transaction, the president directly owned 237,125 shares of the company’s stock, valued at $6,167,621.25. This trade represents a 3.90% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 48,538 shares of company stock valued at $1,262,198 in the last three months. Corporate insiders own 4.87% of the company’s stock.

Institutional Investors Weigh In On Unusual Machines

Several institutional investors and hedge funds have recently made changes to their positions in the business. Sterling Capital Management LLC grew its stake in Unusual Machines by 845.0% during the third quarter. Sterling Capital Management LLC now owns 1,512 shares of the company’s stock worth $37,000 after purchasing an additional 1,352 shares during the period. Halter Ferguson Financial Inc. lifted its stake in Unusual Machines by 16.4% in the third quarter. Halter Ferguson Financial Inc. now owns 1,782,969 shares of the company’s stock valued at $43,647,000 after buying an additional 250,621 shares during the period. Nisa Investment Advisors LLC acquired a new position in Unusual Machines in the third quarter valued at approximately $120,000. IFC & Insurance Marketing Inc. lifted its stake in Unusual Machines by 9.2% in the third quarter. IFC & Insurance Marketing Inc. now owns 15,445 shares of the company’s stock valued at $378,000 after buying an additional 1,305 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Unusual Machines during the 2nd quarter worth approximately $52,000.

Unusual Machines Company Profile

Unusual Machines, Inc develops, manufactures and sells unmanned aircraft systems and components, with a focus on first-person-view (FPV) drones. Its product offerings include complete drones, motors, propellers, frames, flight controllers and other replacement parts used by recreational pilots, commercial operators and drone builders.

The company also markets FPV-related electronics and accessories, including video equipment and goggles. Its portfolio has included the Rotor Riot and Fat Shark brands, which are associated with FPV drones, pilot content and immersive flight products.