Yorkville Advisors Global LP Purchases New Stake in Unusual Machines, Inc. $UMAC

Yorkville Advisors Global LP purchased a new stake in shares of Unusual Machines, Inc. (NYSEAMERICAN:UMAC) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 136,446 shares of the company’s stock, valued at approximately $1,692,000. Unusual Machines comprises about 1.0% of Yorkville Advisors Global LP’s investment portfolio, making the stock its 15th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd increased its holdings in shares of Unusual Machines by 22.2% in the fourth 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 during the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of Unusual Machines by 54.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 6,169 shares of the company’s stock worth $79,000 after buying an additional 2,169 shares during the last quarter. Wexford Capital LP bought a new stake in shares of Unusual Machines during the 3rd quarter worth about $40,000. NFSG Corp bought a new stake in shares of Unusual Machines during the 1st quarter worth about $37,000. Finally, IFC & Insurance Marketing Inc. boosted its holdings in shares of Unusual Machines by 43.6% during the 1st quarter. IFC & Insurance Marketing Inc. now owns 10,821 shares of the company’s stock worth $134,000 after buying an additional 3,283 shares during the period.

Unusual Machines Stock Performance

UMAC opened at $19.67 on Thursday. Unusual Machines, Inc. has a fifty-two week low of $7.24 and a fifty-two week high of $34.36. The company has a market capitalization of $940.03 million, a P/E ratio of -46.83 and a beta of 14.84. The stock has a fifty day moving average of $21.51 and a 200-day moving average of $17.24.

Unusual Machines (NYSEAMERICAN:UMAC) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.15). Unusual Machines had a negative net margin of 32.71% and a negative return on equity of 11.83%. The business had revenue of $8.10 million during the quarter, compared to analyst estimates of $5.54 million. On average, equities research analysts predict that Unusual Machines, Inc. will post -0.72 earnings per share for the current fiscal year.

Analysts Set New Price Targets

UMAC has been the topic of several research analyst reports. Roth Capital increased their price target on shares of Unusual Machines to $40.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Needham & Company LLC boosted their price objective on Unusual Machines from $22.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. National Bank Financial set a $42.00 price objective on Unusual Machines in a report on Wednesday, July 15th. Finally, HC Wainwright initiated coverage on Unusual Machines in a research report on Wednesday, July 15th. They issued a “buy” rating and a $42.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Unusual Machines has a consensus rating of “Buy” and a consensus target price of $34.80.

Insiders Place Their Bets

In other Unusual Machines news, President Andrew Ross Camden sold 100,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $30.05, for a total transaction of $3,005,000.00. Following the transaction, the president owned 246,750 shares in the company, valued at $7,414,837.50. This represents a 28.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeffrey M. Thompson sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $27.42, for a total transaction of $411,300.00. Following the transaction, the director directly owned 4,779,392 shares in the company, valued at $131,050,928.64. This represents a 0.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 280,000 shares of company stock worth $6,477,200 in the last quarter. 7.50% of the stock is currently owned by corporate insiders.

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.