Unusual Machines (NYSEAMERICAN:UMAC) Stock Price Down 15.5% – What’s Next?

Unusual Machines, Inc. (NYSEAMERICAN:UMAC)’s stock price dropped 15.5% during trading on Wednesday. The stock traded as low as $12.25 and last traded at $12.36. 1,978,284 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 4,451,545 shares. The stock had previously closed at $14.62.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Northland Securities started coverage on shares of Unusual Machines in a research report on Friday, October 23rd. They set an “outperform” rating and a $30.00 price target on the stock. ThinkEquity reaffirmed 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 shares of Unusual Machines in a research report on Wednesday, July 15th. Piper Sandler decreased their target price on Unusual Machines from $38.00 to $29.00 and set an “overweight” rating for the company in a research report on Friday, October 23rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $40.00 target price on shares of Unusual Machines in a report on Wednesday, October 7th. Seven investment analysts have rated the stock with a Buy rating. According to data from MarketBeat, Unusual Machines currently has an average rating of “Buy” and an average price target of $34.71.

Unusual Machines Price Performance

The company has a 50 day simple moving average of $21.22 and a 200-day simple moving average of $19.20. The stock has a market capitalization of $657.47 million, a P/E ratio of -50.62 and a beta of 15.02.

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

Insider Transactions at Unusual Machines

In other Unusual Machines news, President Andrew Ross Camden sold 9,625 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 $250,346.25. Following the completion of the transaction, the president owned 237,125 shares of the company’s stock, valued at $6,167,621.25. The trade was a 3.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Stacy Rochelle Wright sold 27,500 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $26.00, for a total value of $715,000.00. Following the sale, the executive owned 68,750 shares in the company, valued at $1,787,500. The trade was a 28.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 48,538 shares of company stock valued at $1,262,198. 4.87% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Unusual Machines

A number of hedge funds have recently made changes to their positions in the business. Halter Ferguson Financial Inc. boosted its position in Unusual Machines by 16.4% during 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. Wasatch Advisors LP purchased a new stake in Unusual Machines in the second quarter worth $8,087,000. Squarepoint Ops LLC bought a new position in Unusual Machines in the second quarter worth about $4,872,000. Bank of New York Mellon Corp purchased a new position in shares of Unusual Machines during the 2nd quarter worth approximately $2,999,000. Finally, Yorkville Advisors Global LP purchased a new position in Unusual Machines during the first quarter valued at $1,692,000.

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.