Unusual Machines (NYSEAMERICAN:UMAC) CFO Brian Joseph Hoff Sells 11,413 Shares

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) CFO Brian Joseph Hoff sold 11,413 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $26.01, for a total transaction of $296,852.13. Following the sale, the chief financial officer directly owned 341,237 shares in the company, valued at $8,875,574.37. The trade was a 3.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Brian Joseph Hoff also recently made the following trade(s):

• On Wednesday, May 27th, Brian Joseph Hoff sold 150,000 shares of Unusual Machines stock. The stock was sold at an average price of $17.71, for a total value of $2,656,500.00.

Unusual Machines Stock Performance

Shares of NYSEAMERICAN UMAC opened at $27.43 on Friday. The stock has a market cap of $1.37 billion, a PE ratio of -105.50 and a beta of 14.92. Unusual Machines, Inc. has a fifty-two week low of $7.24 and a fifty-two week high of $34.93. The stock has a fifty day moving average of $22.62 and a 200-day moving average of $18.61.

Unusual Machines (NYSEAMERICAN:UMAC) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.16). Unusual Machines had a negative return on equity of 7.62% and a negative net margin of 20.29%.The business had revenue of $16.72 million for the quarter, compared to analysts’ expectations of $9.20 million. On average, sell-side analysts predict that Unusual Machines, Inc. will post -0.67 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on UMAC. Needham & Company LLC upped their target price on Unusual Machines from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Roth Capital boosted their price objective on Unusual Machines to $40.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Piper Sandler started coverage on shares of Unusual Machines in a research report on Wednesday, August 12th. They issued an “overweight” rating and a $38.00 price objective on the stock. National Bank Financial set a $42.00 target price on shares of Unusual Machines in a research note on Wednesday, July 15th. Finally, ThinkEquity reiterated a “buy” rating on shares of Unusual Machines in a research report on Monday. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Unusual Machines has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. NFSG Corp purchased a new position in shares of Unusual Machines in the 1st quarter worth about $37,000. Wexford Capital LP purchased a new position in shares of Unusual Machines during the 3rd quarter valued at about $40,000. Bank of America Corp DE raised its holdings in shares of Unusual Machines by 7,372.6% during the 2nd quarter. Bank of America Corp DE now owns 7,099 shares of the company’s stock valued at $61,000 after buying an additional 7,004 shares in the last quarter. Ankerstar Wealth LLC bought a new stake in Unusual Machines in the 4th quarter worth approximately $64,000. Finally, Rockefeller Capital Management L.P. lifted its position 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 during the last quarter.

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.