Unusual Machines (NYSEAMERICAN:UMAC) Trading Up 7.8% – Here’s Why

Unusual Machines, Inc. (NYSEAMERICAN:UMAC)’s stock price traded up 7.8% during trading on Tuesday . The stock traded as high as $18.70 and last traded at $18.56. 1,104,742 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 5,112,310 shares. The stock had previously closed at $17.22.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Needham & Company LLC boosted their price target on shares of Unusual Machines from $22.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Roth Capital raised their price objective on shares of Unusual Machines to $40.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. One equities 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. According to MarketBeat.com, Unusual Machines presently has an average rating of “Buy” and a consensus target price of $30.00.

Unusual Machines Trading Up 6.7%

The company has a market cap of $877.90 million, a price-to-earnings ratio of -43.74 and a beta of 14.84. The stock has a 50 day moving average price of $20.95 and a two-hundred day moving average price of $16.96.

Unusual Machines (NYSEAMERICAN:UMAC) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.15). The business had revenue of $8.10 million for 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%. On average, equities analysts forecast that Unusual Machines, Inc. will post -0.72 EPS for the current fiscal year.

Insider Activity at Unusual Machines

In other news, Director Jeffrey M. Thompson sold 15,000 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $26.96, for a total transaction of $404,400.00. Following the completion of the transaction, the director directly owned 4,794,392 shares in the company, valued at $129,256,808.32. This represents a 0.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Brian Joseph Hoff sold 150,000 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $17.71, for a total value of $2,656,500.00. Following the completion of the transaction, the chief financial officer owned 352,650 shares of the company’s stock, valued at $6,245,431.50. The trade was a 29.84% 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. Over the last 90 days, insiders sold 280,000 shares of company stock valued at $6,477,200. Corporate insiders own 7.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Wexford Capital LP bought a new position in Unusual Machines in the third quarter valued at approximately $40,000. NFSG Corp bought a new stake in shares of Unusual Machines during the 1st quarter worth approximately $37,000. Ankerstar Wealth LLC bought a new stake in shares of Unusual Machines during the 4th quarter worth approximately $64,000. Rockefeller Capital Management L.P. boosted its holdings in shares of Unusual Machines by 54.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 6,169 shares of the company’s stock valued at $79,000 after buying an additional 2,169 shares during the last quarter. Finally, Leonteq Securities AG acquired a new stake in shares of Unusual Machines in the 1st quarter valued at approximately $80,000.

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.