Unusual Machines (NYSEAMERICAN:UMAC) Director Sells $411,300.00 in Stock

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Director Jeffrey Thompson sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $27.42, for a total transaction of $411,300.00. Following the completion of the sale, the director directly owned 4,779,392 shares of the company’s stock, valued at approximately $131,050,928.64. This represents a 0.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Unusual Machines Price Performance

Shares of Unusual Machines stock opened at $25.72 on Friday. The firm has a market cap of $1.23 billion, a P/E ratio of -61.24 and a beta of 14.62. The firm has a 50 day simple moving average of $17.67 and a 200 day simple moving average of $15.12. Unusual Machines, Inc. has a fifty-two week low of $7.24 and a fifty-two week high of $34.36.

Unusual Machines (NYSEAMERICAN:UMAC) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.15). The company had revenue of $8.10 million during the quarter, compared to analyst estimates of $5.54 million. Unusual Machines had a negative net margin of 32.71% and a negative return on equity of 11.83%. On average, sell-side analysts expect that Unusual Machines, Inc. will post -0.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Needham & Company LLC raised their price objective on shares of Unusual Machines from $22.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday. Roth Mkm raised their price objective on shares of Unusual Machines to $40.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $30.00.

Institutional Investors Weigh In On Unusual Machines

Several institutional investors and hedge funds have recently added to or reduced their stakes in UMAC. NFSG Corp bought a new stake in Unusual Machines during the 1st quarter worth about $37,000. Ameritas Advisory Services LLC acquired a new position in shares of Unusual Machines during the 3rd quarter worth about $38,000. Wexford Capital LP acquired a new position in shares of Unusual Machines during the 3rd quarter worth about $40,000. Jones Financial Companies Lllp increased its stake in shares of Unusual Machines by 67.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,017 shares of the company’s stock worth $46,000 after purchasing an additional 1,218 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Unusual Machines by 7,372.6% during the 2nd quarter. Bank of America Corp DE now owns 7,099 shares of the company’s stock worth $61,000 after purchasing an additional 7,004 shares during the last quarter.

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.