Unusual Machines (NYSEAMERICAN:UMAC) Director Sells $22,063.13 in Stock

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Director Sanford Rich sold 11,087 shares of Unusual Machines stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $1.99, for a total value of $22,063.13. Following the transaction, the director owned 204,944 shares of the company’s stock, valued at $407,838.56. The trade was a 5.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Unusual Machines Stock Up 7.0%

Shares of UMAC stock traded up $0.83 on Wednesday, hitting $12.74. The company had a trading volume of 3,416,769 shares, compared to its average volume of 2,877,399. Unusual Machines, Inc. has a twelve month low of $4.45 and a twelve month high of $19.23. The firm has a market cap of $469.85 million, a P/E ratio of -3.45 and a beta of 22.59. The company has a 50-day moving average price of $10.85 and a 200-day moving average price of $10.89.

Analyst Ratings Changes

Several research firms have commented on UMAC. ThinkEquity upgraded Unusual Machines to a “strong-buy” rating in a research report on Monday, November 17th. Zacks Research upgraded shares of Unusual Machines from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Jones Trading assumed coverage on shares of Unusual Machines in a report on Monday, December 1st. They set a “buy” rating and a $20.00 price target on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of Unusual Machines in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $20.00.

Institutional Trading of Unusual Machines

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Unusual Machines during the 1st quarter valued at approximately $27,000. NTV Asset Management LLC acquired a new position in Unusual Machines during the second quarter worth $86,000. FNY Investment Advisers LLC purchased a new position in Unusual Machines during the second quarter valued at $98,000. Caitong International Asset Management Co. Ltd purchased a new position in Unusual Machines during the second quarter valued at $142,000. Finally, GWN Securities Inc. acquired a new stake in shares of Unusual Machines in the second quarter valued at about $246,000.

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.