Unusual Machines (NYSEAMERICAN:UMAC) Shares Down 6.4% – Should You Sell?

Unusual Machines, Inc. (NYSEAMERICAN:UMAC – Get Free Report)’s share price was down 6.4% during mid-day trading on Wednesday. The stock traded as low as $20.70 and last traded at $20.92. Approximately 706,322 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 4,636,852 shares. The stock had previously closed at $22.36.

Analyst Ratings Changes

Several equities analysts have weighed in on UMAC shares. Piper Sandler initiated coverage on shares of Unusual Machines in a report on Wednesday, August 12th. They set an “overweight” rating and a $38.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $40.00 price objective on shares of Unusual Machines in a research note on Wednesday. HC Wainwright started coverage on shares of Unusual Machines in a research report on Wednesday, July 15th. They set a “buy” rating and a $42.00 price objective on the stock. ThinkEquity restated a “buy” rating on shares of Unusual Machines in a research note on Monday, August 17th. Finally, National Bank Financial set a $42.00 target price on shares of Unusual Machines in a report on Wednesday, July 15th. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $37.00.

Get Our Latest Analysis on Unusual Machines

Unusual Machines Stock Performance

The stock has a fifty day moving average of $24.63 and a 200 day moving average of $20.66. The company has a market capitalization of $1.07 billion, a PE ratio of -82.27 and a beta of 14.80.

Unusual Machines (NYSEAMERICAN:UMAC – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.16) earnings per share for the quarter, hitting the consensus estimate of ($0.16). The business had revenue of $16.72 million during the quarter, compared to the consensus estimate of $9.20 million. Unusual Machines had a negative return on equity of 7.62% and a negative net margin of 20.29%. As a group, equities analysts predict that Unusual Machines, Inc. will post -0.67 EPS for the current year.

Insider Buying and Selling

In related news, CFO Brian Joseph Hoff sold 11,413 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $26.01, for a total transaction of $296,852.13. Following the completion of the transaction, the chief financial officer directly owned 341,237 shares of the company’s stock, valued at approximately $8,875,574.37. This trade represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Andrew Ross Camden sold 9,625 shares of Unusual Machines stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $26.01, for a total transaction of $250,346.25. Following the completion of the sale, the president owned 237,125 shares in the company, valued at approximately $6,167,621.25. This represents a 3.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 48,538 shares of company stock worth $1,262,198. 4.87% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Granahan Investment Management LLC purchased a new position in shares of Unusual Machines in the fourth quarter valued at $14,708,000. Wasatch Advisors LP purchased a new stake in Unusual Machines during the second quarter valued at $8,087,000. Squarepoint Ops LLC purchased a new stake in Unusual Machines during the second quarter valued at $4,872,000. Yorkville Advisors Global LP bought a new position in Unusual Machines during the first quarter valued at $1,692,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Unusual Machines in the 2nd quarter worth $2,999,000.

About Unusual Machines

(Get Free Report)

Unusual Machines, Inc develops, manufactures and sells components and systems for drones, with a focus on first-person-view (FPV) aircraft and other small unmanned aerial systems. Its product offerings include drone motors, propellers, flight controllers, frames and related electronic components used by recreational, commercial and government customers.

The company also markets and distributes FPV drone products through its Rotor Riot brand, which serves the FPV community with aircraft, equipment, accessories and related content.

Further Reading

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