Stacy Rochelle Wright Sells 27,500 Shares of Unusual Machines (NYSEAMERICAN:UMAC) Stock

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) CRO Stacy Rochelle Wright sold 27,500 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $26.00, for a total transaction of $715,000.00. Following the completion of the sale, the executive owned 68,750 shares in the company, valued at approximately $1,787,500. The trade was a 28.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Unusual Machines Trading Up 5.6%

Shares of UMAC stock opened at $27.43 on Friday. The firm has a market capitalization of $1.37 billion, a P/E ratio of -105.50 and a beta of 14.92. Unusual Machines, Inc. has a 1 year low of $7.24 and a 1 year high of $34.93. The firm’s fifty day simple moving average is $22.62 and its 200 day simple moving average is $18.61.

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

Institutional Investors Weigh In On Unusual Machines

Several institutional investors and hedge funds have recently bought and sold shares of UMAC. Concurrent Investment Advisors LLC acquired a new position in shares of Unusual Machines in the 2nd quarter valued at $1,446,000. Bank of New York Mellon Corp acquired a new stake in shares of Unusual Machines during the 2nd quarter valued at about $2,999,000. Wasatch Advisors LP acquired a new stake in shares of Unusual Machines during the 2nd quarter valued at about $8,087,000. IFC & Insurance Marketing Inc. increased its stake in Unusual Machines by 30.7% in the second quarter. IFC & Insurance Marketing Inc. now owns 14,140 shares of the company’s stock valued at $315,000 after acquiring an additional 3,319 shares during the period. Finally, Bank of America Corp DE increased its stake in Unusual Machines by 213.2% in the first quarter. Bank of America Corp DE now owns 38,963 shares of the company’s stock valued at $483,000 after acquiring an additional 26,524 shares during the period.

Analyst Ratings Changes

Several equities research analysts recently weighed in on UMAC shares. Piper Sandler began coverage on shares of Unusual Machines in a research note on Wednesday, August 12th. They issued an “overweight” rating and a $38.00 target price for the company. ThinkEquity restated a “buy” rating on shares of Unusual Machines in a research note on Monday, August 17th. Roth Capital upped their price target on Unusual Machines to $40.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Needham & Company LLC raised their price objective on Unusual Machines from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, National Bank Financial set a $42.00 price objective on Unusual Machines in a research report on Wednesday, July 15th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

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.