Unusual Machines (NYSEAMERICAN:UMAC) Research Coverage Started at Roth Mkm

Roth Mkm assumed coverage on shares of Unusual Machines (NYSEAMERICAN:UMACFree Report) in a report issued on Wednesday morning, Marketbeat reports. The brokerage issued a buy rating and a $25.00 target price on the stock.

Separately, Needham & Company LLC reissued a “buy” rating and set a $20.00 price target on shares of Unusual Machines in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $22.33.

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Unusual Machines Stock Performance

Shares of NYSEAMERICAN UMAC opened at $16.20 on Wednesday. The stock has a 50 day moving average price of $15.29 and a 200 day moving average price of $13.55. Unusual Machines has a 52 week low of $4.67 and a 52 week high of $23.38. The stock has a market capitalization of $631.15 million, a PE ratio of -38.57 and a beta of 14.32.

Unusual Machines (NYSEAMERICAN:UMACGet Free Report) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.15). Unusual Machines had a negative net margin of 32.71% and a negative return on equity of 17.73%. The company had revenue of $8.10 million for the quarter, compared to analyst estimates of $5.54 million. As a group, research analysts forecast that Unusual Machines will post -0.28 EPS for the current year.

Insider Activity

In other news, President Andrew Ross Camden sold 9,625 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $18.57, for a total value of $178,736.25. Following the completion of the sale, the president directly owned 356,375 shares of the company’s stock, valued at $6,617,883.75. This trade represents a 2.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Brian Joseph Hoff sold 11,413 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $18.59, for a total value of $212,167.67. Following the completion of the sale, the chief financial officer directly owned 514,062 shares of the company’s stock, valued at approximately $9,556,412.58. The trade was a 2.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 35,768 shares of company stock valued at $666,037 over the last three months. Insiders own 7.50% of the company’s stock.

Institutional Trading of Unusual Machines

A number of hedge funds have recently made changes to their positions in UMAC. NFSG Corp acquired a new stake in shares of Unusual Machines in the first quarter valued at approximately $37,000. Ameritas Advisory Services LLC acquired a new stake in shares of Unusual Machines in the third quarter valued at approximately $38,000. Wexford Capital LP acquired a new stake in shares of Unusual Machines in the third quarter valued at approximately $40,000. Jones Financial Companies Lllp lifted its position in shares of Unusual Machines by 67.7% in the third quarter. Jones Financial Companies Lllp now owns 3,017 shares of the company’s stock valued at $46,000 after buying an additional 1,218 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Unusual Machines by 7,372.6% in the second quarter. Bank of America Corp DE now owns 7,099 shares of the company’s stock valued at $61,000 after buying an additional 7,004 shares during the last quarter.

Unusual Machines News Roundup

Here are the key news stories impacting Unusual Machines this week:

Unusual Machines Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Unusual Machines (NYSEAMERICAN:UMAC)

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