Unusual Machines (NYSEAMERICAN:UMAC) Trading Up 8.2% – Still a Buy?

Shares of Unusual Machines, Inc. (NYSEAMERICAN:UMACGet Free Report) shot up 8.2% during mid-day trading on Thursday . The stock traded as high as $25.88 and last traded at $25.85. 1,277,114 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 4,974,620 shares. The stock had previously closed at $23.89.

Wall Street Analyst Weigh In

Several equities research analysts have commented on UMAC shares. Roth Capital boosted their price target on shares of Unusual Machines to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. ThinkEquity restated a “buy” rating on shares of Unusual Machines in a report on Monday, August 17th. Needham & Company LLC lifted their target price on Unusual Machines from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. HC Wainwright started coverage on Unusual Machines in a report on Wednesday, July 15th. They set a “buy” rating and a $42.00 target price on the stock. Finally, Piper Sandler initiated coverage on Unusual Machines in a report on Wednesday, August 12th. They set an “overweight” rating and a $38.00 target price on the stock. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Unusual Machines presently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Check Out Our Latest Research Report on UMAC

Unusual Machines Price Performance

The firm’s 50 day moving average is $22.60 and its two-hundred day moving average is $19.01. The firm has a market capitalization of $1.20 billion, a P/E ratio of -92.23 and a beta of 14.92.

Unusual Machines (NYSEAMERICAN:UMACGet Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.16) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.16). The business had revenue of $16.72 million for the quarter, compared to the consensus estimate of $9.20 million. Unusual Machines had a negative net margin of 20.29% and a negative return on equity of 7.62%. Analysts anticipate that Unusual Machines, Inc. will post -0.67 EPS for the current fiscal year.

Insider Activity

In other news, President Andrew Ross Camden sold 100,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $30.05, for a total value of $3,005,000.00. Following the sale, the president directly owned 246,750 shares of the company’s stock, valued at approximately $7,414,837.50. This represents a 28.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey M. Thompson sold 15,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $26.96, for a total transaction of $404,400.00. Following the completion of the sale, the director owned 4,794,392 shares of the company’s stock, valued at $129,256,808.32. This trade represents a 0.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 178,538 shares of company stock valued at $5,082,898 over the last quarter. 7.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Unusual Machines

Institutional investors have recently bought and sold shares of the business. Wexford Capital LP acquired a new stake in shares of Unusual Machines in the third quarter valued at approximately $40,000. NFSG Corp bought a new position in shares of Unusual Machines during the 1st quarter worth approximately $37,000. Ankerstar Wealth LLC acquired a new position in shares of Unusual Machines during the 4th quarter worth approximately $64,000. Rockefeller Capital Management L.P. increased its holdings in shares of Unusual Machines by 54.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 6,169 shares of the company’s stock worth $79,000 after acquiring an additional 2,169 shares during the last quarter. Finally, Leonteq Securities AG acquired a new position in shares of Unusual Machines during the 1st quarter worth approximately $80,000.

Unusual Machines Company Profile

(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

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