Stock Traders Purchase Large Volume of Call Options on Unusual Machines (NYSEAMERICAN:UMAC)

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) was the target of some unusual options trading activity on Thursday. Investors purchased 36,144 call options on the company. This is an increase of 379% compared to the average daily volume of 7,552 call options.

Analyst Upgrades and Downgrades

UMAC has been the subject of a number of research analyst reports. Needham & Company LLC increased their price objective on shares of Unusual Machines from $20.00 to $22.00 and gave the company a “buy” rating in a report on Friday, May 15th. Roth Mkm assumed coverage on shares of Unusual Machines in a report on Wednesday, May 13th. They set a “buy” rating and a $25.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $22.33.

Insider Buying and Selling at Unusual Machines

In other Unusual Machines news, CRO Stacy Rochelle Wright sold 13,750 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $18.57, for a total transaction of $255,337.50. Following the completion of the sale, the executive directly owned 96,250 shares of the company’s stock, valued at $1,787,362.50. This trade represents a 12.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brian Joseph Hoff sold 11,413 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $18.59, for a total transaction of $212,167.67. Following the sale, the chief financial officer directly owned 514,062 shares of the company’s stock, valued at approximately $9,556,412.58. This trade represents a 2.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 35,768 shares of company stock valued at $666,037 in the last three months. 7.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Unusual Machines

A number of institutional investors have recently bought and sold shares of UMAC. Geode Capital Management LLC lifted its position in Unusual Machines by 89.1% in the second quarter. Geode Capital Management LLC now owns 222,927 shares of the company’s stock worth $1,911,000 after buying an additional 105,020 shares during the last quarter. Jump Financial LLC bought a new stake in Unusual Machines in the second quarter worth $1,251,000. Bank of America Corp DE lifted its position in shares of Unusual Machines by 7,372.6% during the second quarter. Bank of America Corp DE now owns 7,099 shares of the company’s stock worth $61,000 after purchasing an additional 7,004 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Unusual Machines by 4,639.7% during the second quarter. Tower Research Capital LLC TRC now owns 13,366 shares of the company’s stock worth $115,000 after purchasing an additional 13,084 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Unusual Machines during the third quarter worth $283,000.

Unusual Machines Trading Up 62.8%

Shares of UMAC stock traded up $11.83 on Thursday, reaching $30.66. The company’s stock had a trading volume of 42,171,170 shares, compared to its average volume of 4,671,859. The stock’s fifty day simple moving average is $14.86 and its 200-day simple moving average is $13.67. Unusual Machines has a 1 year low of $4.81 and a 1 year high of $32.00. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of -73.00 and a beta of 14.32.

Unusual Machines (NYSEAMERICAN:UMAC) last posted 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). The business had revenue of $8.10 million during the quarter, compared to analysts’ expectations of $5.54 million. Unusual Machines had a negative net margin of 32.71% and a negative return on equity of 11.83%. Equities research analysts forecast that Unusual Machines will post -0.38 earnings per share for the current year.

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.