Unusual Machines (NYSEAMERICAN:UMAC) Shares Up 13.4% – What’s Next?

Unusual Machines, Inc. (NYSEAMERICAN:UMACGet Free Report) shot up 13.4% during mid-day trading on Friday . The stock traded as high as $16.81 and last traded at $16.78. 4,375,854 shares traded hands during mid-day trading, an increase of 3% from the average session volume of 4,240,583 shares. The stock had previously closed at $14.80.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on UMAC. Roth Mkm began coverage on Unusual Machines in a report on Wednesday, May 13th. They issued a “buy” rating and a $25.00 price target for the company. Needham & Company LLC increased their price target on Unusual Machines from $20.00 to $22.00 and gave the company a “buy” rating in a report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $22.33.

Read Our Latest Analysis on UMAC

Unusual Machines Stock Up 12.7%

The firm has a 50 day moving average price of $15.08 and a two-hundred day moving average price of $13.52. The company has a market capitalization of $797.14 million, a price-to-earnings ratio of -39.71 and a beta of 14.32.

Unusual Machines (NYSEAMERICAN:UMACGet Free Report) last announced its earnings results on Thursday, May 14th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.15). The business had revenue of $8.10 million for the quarter, compared to analyst estimates of $5.54 million. Unusual Machines had a negative net margin of 32.71% and a negative return on equity of 11.83%. Analysts predict that Unusual Machines, Inc. will post -0.38 earnings per share for the current year.

Insider Activity

In other news, President Andrew Ross Camden sold 9,625 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $18.57, for a total transaction of $178,736.25. Following the completion of the sale, the president directly owned 356,375 shares in the company, valued at $6,617,883.75. This trade represents a 2.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Stacy Rochelle Wright sold 13,750 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were 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. This represents a 12.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 35,768 shares of company stock worth $666,037 over the last ninety days. Corporate insiders own 7.50% of the company’s stock.

Institutional Trading of Unusual Machines

Several institutional investors and hedge funds have recently bought and sold shares of UMAC. NFSG Corp bought a new position in Unusual Machines during the 1st quarter worth approximately $37,000. Ameritas Advisory Services LLC bought a new position in Unusual Machines during the 3rd quarter worth approximately $38,000. Wexford Capital LP bought a new position in Unusual Machines during the 3rd quarter worth approximately $40,000. Jones Financial Companies Lllp lifted its holdings in Unusual Machines by 67.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,017 shares of the company’s stock worth $46,000 after buying an additional 1,218 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in Unusual Machines by 7,372.6% during the 2nd quarter. Bank of America Corp DE now owns 7,099 shares of the company’s stock worth $61,000 after buying an additional 7,004 shares during the last quarter.

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.

Further Reading

Receive News & Ratings for Unusual Machines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Unusual Machines and related companies with MarketBeat.com's FREE daily email newsletter.