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

Unusual Machines, Inc. (NYSEAMERICAN:UMAC – Get Free Report) CRO Stacy Rochelle Wright sold 27,500 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $26.00, for a total value of $715,000.00. Following the transaction, the executive directly owned 68,750 shares of the company’s stock, valued at $1,787,500. This represents a 28.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Unusual Machines Stock Up 5.6%

Shares of NYSEAMERICAN:UMAC traded up $1.45 during mid-day trading on Friday, reaching $27.43. 4,109,912 shares of the stock were exchanged, compared to its average volume of 5,025,907. The stock’s 50 day simple moving average is $22.56 and its 200-day simple moving average is $18.55. Unusual Machines, Inc. has a one year low of $7.24 and a one year high of $34.93. The company has a market cap of $1.37 billion, a P/E ratio of -105.50 and a beta of 14.92.

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

Wall Street Analysts Forecast Growth

UMAC has been the subject of several recent research reports. Piper Sandler began coverage on shares of Unusual Machines in a report on Wednesday, August 12th. They set an “overweight” rating and a $38.00 target price for the company. Roth Capital increased their price objective on shares of Unusual Machines to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. National Bank Financial set a $42.00 price objective on Unusual Machines in a report on Wednesday, July 15th. Needham & Company LLC lifted their target price on Unusual Machines from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, HC Wainwright started coverage on Unusual Machines in a research report on Wednesday, July 15th. They issued a “buy” rating and a $42.00 target price on the stock. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

View Our Latest Stock Analysis on Unusual Machines

Institutional Investors Weigh In On Unusual Machines

Several hedge funds have recently bought and sold shares of UMAC. Geode Capital Management LLC increased its position in Unusual Machines by 89.1% during the second quarter. Geode Capital Management LLC now owns 222,927 shares of the company’s stock worth $1,911,000 after buying an additional 105,020 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Unusual Machines in the second quarter valued at approximately $1,251,000. Bank of America Corp DE lifted its position in shares of Unusual Machines by 7,372.6% in the second quarter. Bank of America Corp DE now owns 7,099 shares of the company’s stock valued at $61,000 after buying an additional 7,004 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Unusual Machines by 4,639.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 13,366 shares of the company’s stock worth $115,000 after acquiring an additional 13,084 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Unusual Machines by 13.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,162,795 shares of the company’s stock worth $17,558,000 after acquiring an additional 136,696 shares during the period.

About Unusual Machines

(Get Free Report)

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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