Unusual Machines (NYSEAMERICAN:UMAC) Shares Gap Down – Should You Sell?

Unusual Machines, Inc. (NYSEAMERICAN:UMACGet Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $16.93, but opened at $15.42. Unusual Machines shares last traded at $15.57, with a volume of 1,455,585 shares.

Key Headlines Impacting Unusual Machines

Here are the key news stories impacting Unusual Machines this week:

Wall Street Analyst Weigh In

A number of research firms have weighed in on UMAC. Roth Mkm assumed coverage on shares of Unusual Machines in a research note on Wednesday. They issued a “buy” rating and a $25.00 target price on the stock. Needham & Company LLC lifted their price target on Unusual Machines from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $22.33.

View Our Latest Research Report on Unusual Machines

Unusual Machines Price Performance

The firm has a 50 day simple moving average of $15.26 and a 200-day simple moving average of $13.53. The company has a market cap of $599.98 million, a price-to-earnings ratio of -18.33 and a beta of 14.32.

Insider Activity at Unusual Machines

In related news, President Andrew Ross Camden sold 9,625 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $18.57, for a total value of $178,736.25. Following the sale, the president directly owned 356,375 shares in the company, valued at approximately $6,617,883.75. The trade was a 2.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian Joseph Hoff sold 11,413 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $18.59, for a total transaction of $212,167.67. Following the completion of the sale, the chief financial officer owned 514,062 shares in the company, valued at approximately $9,556,412.58. This trade represents a 2.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 35,768 shares of company stock worth $666,037. Company insiders own 7.50% of the company’s stock.

Hedge Funds Weigh In On Unusual Machines

Large investors have recently bought and sold shares of the business. Ameritas Advisory Services LLC purchased a new position in Unusual Machines in the third quarter valued at $38,000. Wexford Capital LP purchased a new position in Unusual Machines in the third quarter valued at $40,000. NFSG Corp purchased a new position in Unusual Machines in the first quarter valued at $37,000. Jones Financial Companies Lllp increased its holdings 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. Finally, Ankerstar Wealth LLC purchased a new position in Unusual Machines in the fourth quarter valued at $64,000.

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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