Unusual Machines, Inc. (NYSEAMERICAN:UMAC – Get Free Report) shares traded up 7.8% during trading on Tuesday . The stock traded as high as $18.70 and last traded at $18.56. 1,104,742 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 5,112,310 shares. The stock had previously closed at $17.22.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the company. Roth Capital lifted their price objective on Unusual Machines to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Needham & Company LLC increased their target price on Unusual Machines from $22.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $30.00.
Check Out Our Latest Analysis on Unusual Machines
Unusual Machines Stock Performance
Unusual Machines (NYSEAMERICAN:UMAC – Get Free Report) last released its earnings results 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). Unusual Machines had a negative return on equity of 11.83% and a negative net margin of 32.71%.The firm had revenue of $8.10 million for the quarter, compared to analyst estimates of $5.54 million. On average, equities research analysts anticipate that Unusual Machines, Inc. will post -0.72 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Director Jeffrey M. Thompson sold 15,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $26.96, for a total value of $404,400.00. Following the sale, the director owned 4,794,392 shares of the company’s stock, valued at $129,256,808.32. The trade was a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Brian Joseph Hoff sold 150,000 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $17.71, for a total transaction of $2,656,500.00. Following the completion of the transaction, the chief financial officer directly owned 352,650 shares of the company’s stock, valued at $6,245,431.50. This trade represents a 29.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 280,000 shares of company stock valued at $6,477,200 over the last ninety days. 7.50% of the stock is owned by company insiders.
Institutional Investors Weigh In On Unusual Machines
Institutional investors have recently added to or reduced their stakes in the stock. BlueCrest Capital Management Ltd acquired a new position in shares of Unusual Machines in the 3rd quarter worth approximately $2,168,000. Tudor Investment Corp ET AL boosted its stake in Unusual Machines by 201.0% in the 3rd quarter. Tudor Investment Corp ET AL now owns 1,207,460 shares of the company’s stock valued at $18,233,000 after buying an additional 806,359 shares in the last quarter. FNY Investment Advisers LLC boosted its stake in Unusual Machines by 293.4% in the 4th quarter. FNY Investment Advisers LLC now owns 120,001 shares of the company’s stock valued at $1,528,000 after buying an additional 89,500 shares in the last quarter. Moody National Bank Trust Division bought a new stake in Unusual Machines in the fourth quarter valued at $549,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Unusual Machines in the fourth quarter valued at $1,776,000.
About Unusual Machines
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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