Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Given Consensus Rating of “Buy” by Analysts

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) has been given a consensus recommendation of “Buy” by the six brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $30.00.

Several equities analysts have recently weighed in on UMAC shares. HC Wainwright started coverage on Unusual Machines in a research report on Wednesday. They issued a “buy” rating and a $42.00 price target for the company. Needham & Company LLC increased their price objective on Unusual Machines from $22.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Finally, Roth Capital raised their target price on Unusual Machines to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd.

Insiders Place Their Bets

In other Unusual Machines news, Director Jeffrey M. Thompson sold 15,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $26.96, for a total transaction of $404,400.00. Following the sale, the director owned 4,794,392 shares in the company, valued at $129,256,808.32. This trade represents a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Andrew Ross Camden sold 100,000 shares of the firm’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 transaction, the president directly owned 246,750 shares in the company, valued at approximately $7,414,837.50. This represents a 28.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 280,000 shares of company stock worth $6,477,200 in the last ninety days. 7.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Unusual Machines

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd lifted its stake in shares of Unusual Machines by 22.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 11,652 shares of the company’s stock valued at $148,000 after buying an additional 2,116 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in Unusual Machines by 54.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 6,169 shares of the company’s stock worth $79,000 after buying an additional 2,169 shares in the last quarter. Wexford Capital LP bought a new stake in Unusual Machines during the third quarter valued at about $40,000. NFSG Corp bought a new stake in Unusual Machines during the first quarter valued at about $37,000. Finally, IFC & Insurance Marketing Inc. lifted its position in shares of Unusual Machines by 43.6% in the first quarter. IFC & Insurance Marketing Inc. now owns 10,821 shares of the company’s stock valued at $134,000 after acquiring an additional 3,283 shares in the last quarter.

Unusual Machines Stock Performance

NYSEAMERICAN UMAC opened at $18.68 on Wednesday. Unusual Machines has a 52-week low of $7.24 and a 52-week high of $34.36. The company has a 50-day simple moving average of $21.05 and a 200 day simple moving average of $17.00. The company has a market capitalization of $892.72 million, a PE ratio of -44.48 and a beta of 14.84.

Unusual Machines (NYSEAMERICAN:UMAC) last announced its quarterly earnings data 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). Unusual Machines had a negative net margin of 32.71% and a negative return on equity of 11.83%. The firm had revenue of $8.10 million for the quarter, compared to the consensus estimate of $5.54 million. As a group, analysts forecast that Unusual Machines will post -0.72 EPS for the current fiscal year.

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.