Unusual Machines (NYSEAMERICAN:UMAC) Trading Down 8.7% – Should You Sell?

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) shares fell 8.7% during mid-day trading on Monday . The stock traded as low as $14.71 and last traded at $14.79. 1,630,310 shares were traded during trading, a decline of 62% from the average session volume of 4,234,879 shares. The stock had previously closed at $16.20.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Roth Mkm initiated coverage on shares of Unusual Machines in a report on Wednesday, May 13th. They set a “buy” rating and a $25.00 price target for the company. Needham & Company LLC lifted their price objective on shares of Unusual Machines from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $22.33.

Unusual Machines Stock Performance

The company’s 50 day moving average price is $15.29 and its 200-day moving average price is $13.54. The company has a market cap of $674.79 million, a price-to-earnings ratio of -33.62 and a beta of 14.32.

Unusual Machines (NYSEAMERICAN:UMAC) last posted 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 return on equity of 11.83% and a negative net margin of 32.71%.The company had revenue of $8.10 million for the quarter, compared to analyst estimates of $5.54 million. As a group, sell-side analysts forecast that Unusual Machines, Inc. will post -0.28 earnings per share for the current year.

Insider Buying and Selling

In other news, CRO Stacy Rochelle Wright sold 13,750 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $18.57, for a total value of $255,337.50. Following the completion of the transaction, the executive owned 96,250 shares in the company, valued at approximately $1,787,362.50. This represents a 12.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Andrew Ross Camden sold 9,625 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $18.57, for a total transaction of $178,736.25. Following the completion of the transaction, the president owned 356,375 shares of the company’s stock, valued at approximately $6,617,883.75. This represents a 2.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 35,768 shares of company stock valued at $666,037 over the last ninety days. 7.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Unusual Machines

A number of hedge funds have recently made changes to their positions in UMAC. BlueCrest Capital Management Ltd acquired a new stake in shares of Unusual Machines during the 3rd quarter worth about $2,168,000. Tudor Investment Corp ET AL increased its position in shares of Unusual Machines by 201.0% during the 3rd quarter. Tudor Investment Corp ET AL now owns 1,207,460 shares of the company’s stock worth $18,233,000 after purchasing an additional 806,359 shares in the last quarter. FNY Investment Advisers LLC increased its position in shares of Unusual Machines by 293.4% during the 4th quarter. FNY Investment Advisers LLC now owns 120,001 shares of the company’s stock worth $1,528,000 after purchasing an additional 89,500 shares in the last quarter. Moody National Bank Trust Division acquired a new stake in shares of Unusual Machines during the 4th quarter worth about $549,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Unusual Machines during the 4th quarter worth about $1,776,000.

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.