Unusual Machines (NYSEAMERICAN:UMAC) President Andrew Ross Camden Sells 9,625 Shares of Stock

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) President Andrew Ross Camden sold 9,625 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $26.01, for a total transaction of $250,346.25. Following the sale, the president directly owned 237,125 shares in the company, valued at $6,167,621.25. This trade represents a 3.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Andrew Ross Camden also recently made the following trade(s):

• On Thursday, June 4th, Andrew Ross Camden sold 100,000 shares of Unusual Machines stock. The shares were sold at an average price of $30.05, for a total transaction of $3,005,000.00.

Unusual Machines Stock Performance

Shares of Unusual Machines stock opened at $27.43 on Friday. The firm has a 50-day simple moving average of $22.62 and a two-hundred day simple moving average of $18.61. The company has a market cap of $1.37 billion, a P/E 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.

Unusual Machines (NYSEAMERICAN:UMAC) last posted its earnings results on Thursday, August 6th. The company reported ($0.16) EPS for the quarter, meeting 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 firm had revenue of $16.72 million for the quarter, compared to analysts’ expectations of $9.20 million. Equities research analysts forecast that Unusual Machines, Inc. will post -0.67 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Unusual Machines

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Granahan Investment Management LLC acquired a new stake in shares of Unusual Machines in the fourth quarter valued at about $14,708,000. State Street Corp boosted its position in Unusual Machines by 698.4% during the fourth quarter. State Street Corp now owns 966,184 shares of the company’s stock worth $12,309,000 after acquiring an additional 845,173 shares during the last quarter. Wasatch Advisors LP purchased a new stake in Unusual Machines during the 2nd quarter valued at about $8,087,000. Alyeska Investment Group L.P. acquired a new stake in Unusual Machines in the 4th quarter valued at about $2,521,000. Finally, Sei Investments Co. acquired a new stake in Unusual Machines in the 3rd quarter valued at about $2,652,000.

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.