Roth Mkm upgraded shares of Unusual Machines (NYSEAMERICAN:UMAC – Free Report) to a strong-buy rating in a research note issued to investors on Wednesday morning,Zacks.com reports.
Separately, Needham & Company LLC restated a “buy” rating and set a $20.00 target price on shares of Unusual Machines in a research report on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Unusual Machines currently has a consensus rating of “Buy” and a consensus target price of $21.67.
Read Our Latest Stock Analysis on UMAC
Unusual Machines Trading Up 6.0%
Insider Activity
In other news, President Andrew Ross Camden sold 9,625 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $18.57, for a total transaction of $178,736.25. Following the sale, the president directly owned 356,375 shares in the company, valued at approximately $6,617,883.75. This represents a 2.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Stacy Rochelle Wright sold 13,750 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $18.57, for a total transaction of $255,337.50. Following the completion of the sale, the executive directly owned 96,250 shares in the company, valued at $1,787,362.50. This trade represents a 12.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 35,768 shares of company stock worth $666,037. 7.50% of the stock is currently owned by corporate insiders.
Institutional Trading of Unusual Machines
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its position in Unusual Machines by 67.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 3,017 shares of the company’s stock worth $46,000 after purchasing an additional 1,218 shares during the period. Caitong International Asset Management Co. Ltd raised its position in Unusual Machines by 22.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 11,652 shares of the company’s stock worth $148,000 after purchasing an additional 2,116 shares during the period. Rockefeller Capital Management L.P. raised its position in Unusual Machines by 54.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 6,169 shares of the company’s stock worth $79,000 after purchasing an additional 2,169 shares during the period. Ameritas Advisory Services LLC purchased a new stake in Unusual Machines in the 3rd quarter worth about $38,000. Finally, Wexford Capital LP purchased a new stake in Unusual Machines in the 3rd quarter worth about $40,000.
About Unusual Machines
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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