Unusual Machines, Inc. (NYSEAMERICAN:UMAC – Get Free Report)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $14.12, but opened at $15.13. Unusual Machines shares last traded at $13.88, with a volume of 1,206,383 shares changing hands.
Wall Street Analyst Weigh In
UMAC has been the subject of a number of recent analyst reports. Roth Mkm initiated coverage on Unusual Machines in a report on Wednesday. They issued a “buy” rating and a $25.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price target on shares of Unusual Machines in a research note on Wednesday, April 22nd. 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 stock. According to MarketBeat.com, Unusual Machines has an average rating of “Buy” and a consensus price target of $21.67.
Read Our Latest Research Report on Unusual Machines
Unusual Machines Stock Performance
Insider Transactions at Unusual Machines
In other news, CFO Brian Joseph Hoff sold 11,413 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $18.59, for a total transaction of $212,167.67. Following the completion of the sale, the chief financial officer owned 514,062 shares in the company, valued at approximately $9,556,412.58. The trade was a 2.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Stacy Rochelle Wright sold 13,750 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $18.57, for a total value of $255,337.50. Following the sale, the executive owned 96,250 shares of the company’s stock, valued at $1,787,362.50. The trade was a 12.50% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 35,768 shares of company stock worth $666,037. 7.50% of the stock is currently owned by company insiders.
Institutional Trading of Unusual Machines
A number of institutional investors have recently modified their holdings of the company. Wealthfront Advisers LLC purchased a new stake in shares of Unusual Machines during the 1st quarter worth about $185,000. NFSG Corp purchased a new stake in shares of Unusual Machines during the 1st quarter worth about $37,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of Unusual Machines during the 1st quarter worth about $817,000. Leonteq Securities AG purchased a new stake in shares of Unusual Machines during the 1st quarter worth about $80,000. Finally, IFC & Insurance Marketing Inc. grew its holdings in shares of Unusual Machines by 43.6% during the 1st quarter. IFC & Insurance Marketing Inc. now owns 10,821 shares of the company’s stock worth $134,000 after purchasing an additional 3,283 shares during the period.
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.
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