Unusual Machines (NYSEAMERICAN:UMAC) Price Target Cut to $27.00 by Analysts at Piper Sandler

Unusual Machines (NYSEAMERICAN:UMAC – Get Free Report) had its target price decreased by equities research analysts at Piper Sandler from $29.00 to $27.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler‘s price objective would suggest a potential upside of 126.89% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the company. Northland Securities initiated coverage on Unusual Machines in a report on Friday, October 23rd. They set an “outperform” rating and a $30.00 price objective for the company. National Bank Financial set a $42.00 target price on Unusual Machines in a research report on Wednesday, July 15th. Needham & Company LLC lowered their target price on Unusual Machines from $40.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday. HC Wainwright initiated coverage on Unusual Machines in a research note on Wednesday, July 15th. They set a “buy” rating and a $42.00 target price on the stock. Finally, ThinkEquity reissued a “buy” rating on shares of Unusual Machines in a report on Monday, August 17th. Seven research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $31.86.

View Our Latest Stock Report on UMAC

Unusual Machines Stock Performance

Shares of UMAC opened at $11.90 on Monday. Unusual Machines has a 52 week low of $7.24 and a 52 week high of $34.93. The firm has a market cap of $617.73 million, a P/E ratio of -14.69 and a beta of 15.02. The firm’s 50-day simple moving average is $20.44 and its 200 day simple moving average is $19.11.

Unusual Machines (NYSEAMERICAN:UMAC – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.16) earnings per share for the quarter, meeting the consensus estimate of ($0.16). The firm had revenue of $16.72 million for the quarter, compared to analysts’ expectations of $9.20 million. Unusual Machines had a negative net margin of 75.91% and a negative return on equity of 7.82%. As a group, equities analysts forecast that Unusual Machines will post -0.67 earnings per share for the current year.

Insider Activity at Unusual Machines

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. NFSG Corp bought a new position in shares of Unusual Machines during the first quarter worth approximately $37,000. Sterling Capital Management LLC raised its position in shares of Unusual Machines by 845.0% in the third quarter. Sterling Capital Management LLC now owns 1,512 shares of the company’s stock valued at $37,000 after buying an additional 1,352 shares in the last quarter. IFP Advisors Inc raised its position in shares of Unusual Machines by 281.4% in the second quarter. IFP Advisors Inc now owns 2,033 shares of the company’s stock valued at $45,000 after buying an additional 1,500 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Unusual Machines in the second quarter valued at approximately $52,000. Finally, Canton Hathaway LLC bought a new stake in shares of Unusual Machines in the third quarter valued at approximately $73,000.

About Unusual Machines

(Get Free Report)

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.

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Analyst Recommendations for Unusual Machines (NYSEAMERICAN:UMAC)

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