Unusual Machines (NYSEAMERICAN:UMAC) Given New $22.00 Price Target at Needham & Company LLC

Unusual Machines (NYSEAMERICAN:UMACFree Report) had its target price upped by Needham & Company LLC from $20.00 to $22.00 in a research report released on Friday morning, Marketbeat.com reports. Needham & Company LLC currently has a buy rating on the stock.

Separately, Roth Mkm started coverage on Unusual Machines in a research note on Wednesday. They set a “buy” rating and a $25.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $22.33.

View Our Latest Analysis on UMAC

Unusual Machines Price Performance

Unusual Machines stock opened at $16.20 on Friday. The stock’s fifty day moving average price is $15.29 and its two-hundred day moving average price is $13.55. Unusual Machines has a one year low of $4.67 and a one year high of $23.38. The firm has a market cap of $631.15 million, a PE ratio of -38.57 and a beta of 14.32.

Unusual Machines (NYSEAMERICAN:UMACGet Free Report) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.15). Unusual Machines had a negative return on equity of 17.73% and a negative net margin of 32.71%.The company had revenue of $8.10 million for the quarter, compared to the consensus estimate of $5.54 million. Sell-side analysts expect that Unusual Machines will post -0.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Unusual Machines

In other Unusual Machines news, President Andrew Ross Camden sold 9,625 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $18.57, for a total value of $178,736.25. Following the sale, the president owned 356,375 shares of the company’s stock, valued at approximately $6,617,883.75. This trade represents a 2.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Brian Joseph Hoff sold 11,413 shares of the firm’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 completion of the sale, the chief financial officer directly owned 514,062 shares in the company, valued at approximately $9,556,412.58. This represents a 2.17% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 35,768 shares of company stock valued at $666,037. 7.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Unusual Machines

A number of large investors have recently modified their holdings of the business. Jones Financial Companies Lllp boosted its holdings in shares of Unusual Machines by 67.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 3,017 shares of the company’s stock valued at $46,000 after purchasing an additional 1,218 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Unusual Machines by 22.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 11,652 shares of the company’s stock valued at $148,000 after purchasing an additional 2,116 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in shares of Unusual Machines by 54.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 6,169 shares of the company’s stock valued at $79,000 after purchasing an additional 2,169 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Unusual Machines in the 3rd quarter valued at $38,000. Finally, Wexford Capital LP acquired a new stake in shares of Unusual Machines during the 3rd quarter valued at $40,000.

Unusual Machines News Summary

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Unusual Machines Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Unusual Machines (NYSEAMERICAN:UMAC)

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