Unusual Machines (NYSEAMERICAN:UMAC) Trading Up 7.5% – Time to Buy?

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) was up 7.5% during mid-day trading on Tuesday . The company traded as high as $25.67 and last traded at $25.55. Approximately 1,150,417 shares were traded during trading, a decline of 76% from the average session volume of 4,891,794 shares. The stock had previously closed at $23.76.

Wall Street Analyst Weigh In

UMAC has been the subject of several research analyst reports. National Bank Financial set a $42.00 target price on shares of Unusual Machines in a report on Wednesday, July 15th. Roth Capital raised their price objective 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 began coverage on Unusual Machines in a report on Wednesday, August 12th. They set an “overweight” rating and a $38.00 price objective for the company. ThinkEquity restated a “buy” rating on shares of Unusual Machines in a research note on Monday, August 17th. Finally, Needham & Company LLC increased their target price on shares of Unusual Machines from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Unusual Machines has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Unusual Machines Stock Up 8.4%

The firm has a 50 day moving average of $23.02 and a two-hundred day moving average of $19.53. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -99.08 and a beta of 14.78.

Unusual Machines (NYSEAMERICAN:UMAC) last issued its earnings results on Thursday, August 6th. The company reported ($0.16) EPS for the quarter, hitting the consensus estimate of ($0.16). The firm had revenue of $16.72 million during the quarter, compared to the consensus estimate of $9.20 million. Unusual Machines had a negative return on equity of 7.62% and a negative net margin of 20.29%. Sell-side analysts forecast that Unusual Machines, Inc. will post -0.67 EPS for the current fiscal year.

Insider Activity at Unusual Machines

In related news, CFO Brian Joseph Hoff sold 11,413 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $26.01, for a total value of $296,852.13. Following the completion of the transaction, the chief financial officer owned 341,237 shares of the company’s stock, valued at $8,875,574.37. This represents a 3.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Andrew Ross Camden sold 9,625 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $26.01, for a total transaction of $250,346.25. Following the completion of the sale, the president owned 237,125 shares in the company, valued at $6,167,621.25. This represents a 3.90% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 48,538 shares of company stock valued at $1,262,198. 4.87% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. NFSG Corp acquired a new stake in shares of Unusual Machines during the 1st quarter valued at $37,000. Wexford Capital LP acquired a new position in Unusual Machines in the 3rd quarter worth about $40,000. Bank of America Corp DE raised its position in Unusual Machines by 7,372.6% in the second quarter. Bank of America Corp DE now owns 7,099 shares of the company’s stock valued at $61,000 after purchasing an additional 7,004 shares during the last quarter. Ankerstar Wealth LLC bought a new position in Unusual Machines in the fourth quarter valued at about $64,000. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of Unusual Machines by 54.2% during the fourth 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.

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.