Unusual Machines (NYSEAMERICAN:UMAC) CFO Sells $212,167.67 in Stock

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) CFO Brian Joseph Hoff sold 11,413 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $18.59, for a total value of $212,167.67. Following the sale, the chief financial officer owned 514,062 shares in the company, valued at approximately $9,556,412.58. The trade was a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Unusual Machines Stock Performance

NYSEAMERICAN UMAC traded up $2.30 during trading hours on Tuesday, hitting $20.91. The company had a trading volume of 4,634,881 shares, compared to its average volume of 4,060,057. Unusual Machines, Inc. has a 52 week low of $4.45 and a 52 week high of $23.38. The firm has a 50 day simple moving average of $15.21 and a 200 day simple moving average of $12.93. The firm has a market capitalization of $813.19 million, a price-to-earnings ratio of -24.89 and a beta of 22.20.

Institutional Investors Weigh In On Unusual Machines

Several hedge funds have recently added to or reduced their stakes in UMAC. Allworth Financial LP bought a new position in shares of Unusual Machines during the 2nd quarter valued at about $125,000. Geode Capital Management LLC lifted its position in Unusual Machines by 89.1% in the 2nd 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. Connective Capital Management LLC purchased a new stake in Unusual Machines in the second quarter worth approximately $636,000. Jump Financial LLC purchased a new stake in Unusual Machines in the second quarter worth approximately $1,251,000. Finally, Bank of America Corp DE grew its position in 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.

Analyst Ratings Changes

A number of brokerages have recently issued reports on UMAC. ThinkEquity raised shares of Unusual Machines to a “strong-buy” rating in a report on Monday, November 17th. JonesTrading started coverage on shares of Unusual Machines in a report on Monday, December 1st. They set a “buy” rating and a $20.00 target price on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $20.00 target price on shares of Unusual Machines in a research note on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Unusual Machines has a consensus rating of “Buy” and a consensus target price of $20.00.

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.