Sanford Rich Sells 980 Shares of Unusual Machines (NYSEAMERICAN:UMAC) Stock

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Director Sanford Rich sold 980 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $20.20, for a total transaction of $19,796.00. Following the completion of the sale, the director directly owned 205,925 shares of the company’s stock, valued at $4,159,685. The trade was a 0.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Sanford Rich also recently made the following trade(s):

• On Monday, December 29th, Sanford Rich sold 11,087 shares of Unusual Machines stock. The shares were sold at an average price of $1.99, for a total value of $22,063.13.

Unusual Machines Stock Performance

UMAC traded up $2.30 on Tuesday, hitting $20.91. The company had a trading volume of 4,623,658 shares, compared to its average volume of 4,053,957. The stock has a market capitalization of $813.19 million, a price-to-earnings ratio of -24.89 and a beta of 22.20. The stock has a fifty day moving average price of $15.21 and a 200-day moving average price of $12.93. Unusual Machines, Inc. has a 12-month low of $4.45 and a 12-month high of $23.38.

Institutional Trading of Unusual Machines

Several institutional investors have recently made changes to their positions in UMAC. Ameritas Advisory Services LLC acquired a new position in shares of Unusual Machines in the 3rd quarter valued at $38,000. Wexford Capital LP purchased a new stake in Unusual Machines in the 3rd quarter valued at about $40,000. Jones Financial Companies Lllp lifted its position in Unusual Machines by 67.7% in the third quarter. Jones Financial Companies Lllp now owns 3,017 shares of the company’s stock valued at $46,000 after buying an additional 1,218 shares during the last quarter. Bank of America Corp DE increased 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 valued at $61,000 after acquiring an additional 7,004 shares during the last quarter. Finally, Ankerstar Wealth LLC purchased a new stake in shares of Unusual Machines in the 4th quarter valued at approximately $64,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $20.00 price objective on shares of Unusual Machines in a report on Monday, March 9th. JonesTrading initiated coverage on shares of Unusual Machines in a research note on Monday, December 1st. They issued a “buy” rating and a $20.00 target price for the company. Finally, ThinkEquity upgraded shares of Unusual Machines to a “strong-buy” rating in a research note on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $20.00.

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.