Unusual Machines, Inc. (NYSEAMERICAN:UMAC – Get Free Report)’s share price rose 9.1% on Thursday . The stock traded as high as $31.74 and last traded at $31.50. Approximately 5,578,263 shares were traded during trading, an increase of 8% from the average daily volume of 5,157,291 shares. The stock had previously closed at $28.86.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the company. Roth Mkm raised their target price on Unusual Machines to $40.00 and gave the stock a “buy” rating in a report on Tuesday. Needham & Company LLC lifted their price objective on Unusual Machines from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Unusual Machines presently has an average rating of “Buy” and an average price target of $27.33.
View Our Latest Research Report on UMAC
Unusual Machines Price Performance
Unusual Machines (NYSEAMERICAN:UMAC – Get Free Report) last announced its quarterly earnings data on Thursday, May 14th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.15). The company had revenue of $8.10 million for the quarter, compared to the consensus estimate of $5.54 million. Unusual Machines had a negative net margin of 32.71% and a negative return on equity of 11.83%. On average, research analysts expect that Unusual Machines, Inc. will post -0.38 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Unusual Machines news, CFO Brian Joseph Hoff sold 150,000 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $17.71, for a total transaction of $2,656,500.00. Following the transaction, the chief financial officer directly owned 352,650 shares in the company, valued at $6,245,431.50. This represents a 29.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Andrew Ross Camden sold 9,625 shares of the business’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 completion of the sale, the president owned 356,375 shares of the company’s stock, valued at approximately $6,617,883.75. This represents a 2.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 185,768 shares of company stock valued at $3,322,537 over the last three months. 7.50% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in the stock. Ameritas Advisory Services LLC bought a new position in Unusual Machines in the third quarter worth about $38,000. Wexford Capital LP acquired a new stake in shares of Unusual Machines in the 3rd quarter worth $40,000. NFSG Corp purchased a new position in Unusual Machines during the 1st quarter worth $37,000. Jones Financial Companies Lllp increased its position in Unusual Machines by 67.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,017 shares of the company’s stock valued at $46,000 after buying an additional 1,218 shares in the last quarter. Finally, Ankerstar Wealth LLC purchased a new stake in Unusual Machines in the fourth quarter valued at about $64,000.
Unusual Machines Company Profile
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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